For Inherited Real Estate, can you use the County Tax Assessment Value to take a loss on sale if property sold more than a year after inheritance?
For instance the FMA appraisal at DOD was $316,000, but the County appraisal one year later shows $397,000. If we sell the property at $316,000, can you reasonable take a tax loss on the $81,000 difference using the County appraisal?
