Your Life

Your Life

Major life milestones often have a major tax impact. Changes in your marital status, having a baby or adopting a child can have significant impact on your taxes. This is the place to ask questions about dependents, real estate, and other various scenarios that play a significant role in what taxes you pay.

Posts: 1
Registered: ‎02-24-2018

Inherited Stock

I inherited some Stock on  4.26.17. and immediately sold some of it. I understand that it is considered a Long Term Gain and the Basis is the day I received it. I am thinking about purchasing HR Block online. Will the HR Block   on line  Deluxe which has schedule D recognize it  since the   date I received it and sold it is short term or  will the software fail to recognize and not let me enter the dates?

Associate (Neighbor)
Posts: 150
Registered: ‎07-22-2014

Re: Inherited Stock

Hello, Chabs, and welcome to the forum.


I believe that the online version of the program will recognize the stock as being held long-term if you enter "inherited" instead of entering the date that you inherited the stock.  (Our in-office program does that, so I would think that the online version would as well.) 


Hope that helps!