rferreira 1
Expert Alumni

Get your taxes done using TurboTax

I so sorry to hear about your loss.  Your basis for the house you inherited is the fair market value on the day you received it.  Add to that any capital improvements you might have made (roof, windows, etc.), and that figure would be your adjusted basis.  Subtract that figure from what you sell it for, minus closing costs, and that is the amount that would be subject to capital gains.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"