Here's how you can enter the sale of an inherited house in desktop TurboTax Premier. I am assuming that you did not live in it, rent it out, or make any other use of it between the death of the previous owner and when you sold it.
- Under Investment Income click the Start button for "Stocks, Cryptocurrency, Mutual Funds, Bonds, Other."
- Did you have investment income in 2024? - Click Yes.
- Let Us Enter Your Bank and Brokerage Tax Documents - Scroll down to the very bottom of the screen and click "Skip Import."
- OK, let's start with one investment type - Click Other, then click Continue.
- Tell us more about this sale - It doesn't matter what you enter. If you used a broker, enter the broker's name.
- Now enter one sale -
What type of investment did you sell? - Select "Land (other investment purpose."
How did you receive this investment? - Select "I inherited it."
Description - Enter a short description. The description you enter will appear on your tax return. I suggest "Inherited house."
Enter the rest of the information requested, and proceed through the rest of the screens.
This answer has been verified for accuracy by an Intuit expert employee
