Have a Tax Question? Ask a Tax Expert
Adding the amount to your income depends on how the money was distributed. If the estate owned the shares and the estate sold then a K1 should be issued to your wife. The K1 would have information that would be reported such as gain or loss that was recognized.
K1s are generally not sen tout till March or even later so before you file I would suggest you contact the sister that took care of this and ask who is completing the estate return and when (if) they are sending K1s.
It could be that nothing is taxable to your wife but if you file and then get the K1 an amended return would be required of you.
After you view my response, please post below if you need more information BUT if you need no further clarification a positive rating is appreciated.I know rating takes an additional step and I truly appreciate it when you take the extra time!
Now that you have viewed my answer please respond