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Level 1

Where should I enter the acquisition date and basis of inherited stock on TurboTax Deluxe for Mac, Download? Vanguard's 1099-B leaves these items blank.

Should I enter my known acquisition date and cost basis in TurboTax's 1099-B line item boxes even though Vanguard's 1099-B leaves those boxes blank?

I have already entered long term even though Vanguard says the holding period is unknown to them (the date of my mother's death was Nov. 17, 2009 and Computershare transferred the stock to Vanguard in Dec, 2009 - it was in my acccount at Vanguard until I sold it in August, 2017.

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Level 3

Where should I enter the acquisition date and basis of inherited stock on TurboTax Deluxe for Mac, Download? Vanguard's 1099-B leaves these items blank.

You are way ahead then. 

Yes enter the information into Turbo Tax. It is pretty common to receive a 1099-B with incomplete or missing information.   See attached screen shots  from Turbo Tax if you would like more information about entering missing data, click on button in Turbo Tax.

3 Replies
Level 1

Where should I enter the acquisition date and basis of inherited stock on TurboTax Deluxe for Mac, Download? Vanguard's 1099-B leaves these items blank.

The only answer I see is telling me how to figure out my acquisition date and basis.  I know these items.  My question is how to enter them in TurboTax, since Vanguard's 1099-B has blank boxes for these items.  Should I enter my known data in TurboTax as if it was provided in Vanguard's 1099-B?
Level 3

Where should I enter the acquisition date and basis of inherited stock on TurboTax Deluxe for Mac, Download? Vanguard's 1099-B leaves these items blank.

You are way ahead then. 

Yes enter the information into Turbo Tax. It is pretty common to receive a 1099-B with incomplete or missing information.   See attached screen shots  from Turbo Tax if you would like more information about entering missing data, click on button in Turbo Tax.

Level 3

Where should I enter the acquisition date and basis of inherited stock on TurboTax Deluxe for Mac, Download? Vanguard's 1099-B leaves these items blank.

The Basis of the Stock acquired from a decedent 

1.is Fair Market Value on the date of death of the decedent    OR

2.if the personal representative of the Estate elects, 6 months after date of death.  

Whichever date you choose will also be your acquisition date.   

Note you get a steped -up basis in inherited property.  So your basis (cost) in the stock needs to be determined as the FMV on either of the two dates above.

If you broker can not help you determine historic FMV, research on line under the actual stock name or corporate name can usually turn up this information.