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Your wife's basis in the stock is the average of the high and low trading price of the stocks on the day her aunt died. It's crucial to have this information so you don't overpay taxes on the sale.
Once you have this information, you'll enter the sales under Federal Taxes>Wages & Income>Investment Income. Report the sales as long term capital gain or loss, no matter how long she owned the stock after her aunt passed away.
Your wife's basis in the stock is the average of the high and low trading price of the stocks on the day her aunt died. It's crucial to have this information so you don't overpay taxes on the sale.
Once you have this information, you'll enter the sales under Federal Taxes>Wages & Income>Investment Income. Report the sales as long term capital gain or loss, no matter how long she owned the stock after her aunt passed away.
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