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The numbers go on lines 5 (short-term) and 12 (long-term) of Schedule D. You should get a 1041 Schedule K-1, which tells you exactly where each number goes on your 1040. Double check the letter from the bank to see if it's serving as a substitute. If it's not, call the bank and find out where your K-1 is.

Phil Marti
VITA Volunteer

Why would he put the loss on *his* return? I was under the impression that this would only be the case if the stock was given to the inheritor and the loss was subsequently incurred *after* it was inherited (i.e. the basis would be the market value on date of death, or the measurement date).

CPA whose specialty isn't taxes
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