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.
02-24-2018 01:35 PM
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?
03-01-2018 09:56 PM
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!