Young-TP
Level 3
04-06-2022
04:31 PM
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Not sure where to start entering so it flows to the correct forms.
Labels
Level 15
04-06-2022
04:42 PM
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Sch D. Use the 1099B worksheet quickzoom button at the top of Sch D, scroll down past the brokerage info at the top and use the entry lines below.
The entries there will flow to the 8949. Use Inherited as the acquired date that will automatically make it long term.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
PATAX
Level 15
04-06-2022
07:14 PM
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Also I think there is a box on the worksheet to check to indicate it wasn't reported on a 1099-b. Just my opinion.
Young-TP
Level 3
04-06-2022
07:36 PM
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so she has to pay taxes on inherited money? She just received a check from the estate.
BobKamman
Level 15
04-06-2022
07:50 PM
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Her cost basis is the value at date of death. You haven't told us when that was. If it was inherited 10 years ago and she has been receiving farm income since then, the sale might go on Form 4797.