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Get your taxes done using TurboTax
You would first need to know what the inherited value was, which serves as your long-term cost basis on the day it was inherited.
From there, if you sell it, you will either have a long-term capital gain or loss, of which you can old claim up to $3,000 per year if you are Single or $1,500 if Married Filing Separate.
Any amounts greater that are deferred until used up in following years.
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‎November 16, 2022
5:18 PM