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Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 6103
Experience:  Extensive Experience with Tax, Financial & Estate Issues
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My father died in 2014; He had stock that my mom sold and she

Customer Question

My father died in 2014; He had stock that my mom sold and she received a 1099-B in the mail; On this form 1e is blank but the program I am using insists that something should be in there.
Submitted: 6 months ago.
Category: Tax
Expert:  Stephen G. replied 6 months ago.
Well, there should be a number but are you aware of what that number should be?If the stock was owned by your father in his own name, then the "cost" or tax basis of the stock is no longer what he paid for the stock when he acquired it, but it is adjusted to the fair market value of the stock as of his date of death. So, there is a provision on Form 8949 to report a transaction where there is a gain or loss and no tax basis information is reported on Form 1099-B.
Expert:  Stephen G. replied 6 months ago.
Just Checking in....................Do you have any follow-up questions?If not, please remember to rate my response as that is the only way we receive credit for our work.Steve G.