- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Inherited House Sale Loss and Personal Property Sale Accounting
Year 2020 we sold a deceased parent house for loss. Year 2020 and 2021 the loss was being released on my taxes at $3k each year. Year 2022 we sold personal property (not inherited) and taxable income from the sale will be a gain. Can I release the remaining balance from the inherited parent house loss in year 2022 to help offset this property sale gain? If so, how do I report it on turbo tax so it takes the full loss and not the $3k annually? Also, will selling some underperforming stocks this year help offset the personal property gain?
Thanks.
‎November 16, 2022
9:29 AM