I am a long time user of TurboTax, specifically the ‘Premier’ version due to a rental home situation for which my wife was the sole owner, mortgage free and fully depreciated after 30 years of rental (rental income and losses reported on Schedule E).
My wife passed away due to cancer this past March, 2023. Under an established Trust, that property, her IRA account, and her car were transferred over to her only son, in April, as an inheritance. Per our Estate/Trust Lawyer, no taxes will be due both federally and state (New Mexico) due to the total value of all estate transferred property being under $600,000.
Given the noted circumstance, what, if any, 2023 TurboTax version can/should I purchase and use to report the above circumstance to realize an appropriate and complete filling, both federally and to the State?
-or do I need to seek CPA help with this upcoming 2023 tax year filing?
