To do that, you will need to determine your cost basis for the stock. That's where things get complicated. The cost basis hinges on the type of trust your mother set up.

For federal tax purposes, inheritance generally isn’t considered income, so you usually don’t need to report it. But certain inheritances might create income, and that income could be taxable.

Community Property The first type of inheritance law is what’s known as community property. Under this system, each spouse automatically owns half of what they each earned while married. So when ...