Nicole_H
Returning Member

Sale of home through an Estate

First part: My mother died in March of 2019. I am the sole beneficiary and was also made executor of her estate. She had a primary house that I sold in November. Does the step up cost basis include the expenses (i.e. county taxes, title insurance, escrow fees, etc) or are the expenses considered a "loss"?

 

Second part: Does any part of the Estate tax return flow through to my personal tax return? After I prepared the Estate tax return, Sch K-1, part 3 was blank.

 

Thanks!

 

Nicole

 

Nicole

DaveF1006
Expert Alumni

Get your taxes done using TurboTax

Yes, you may include sales expenses incurred during the sale of the house. It would only flow through your return if you have a gain of the sale. If you have a loss or a wash, then that will not populate on your K1 because there would be nothing to report.

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Get your taxes done using TurboTax

your property tax paid at closing is not part of your "Sales expense".