You would report that sale in the Investments section of TurboTax
Because it is inherited property, your cost basis is considered to be the Fair Market Value of the property as of the date of death of the decedent, plus any improvements that you may have made to the property
In TurboTax for Premier,report the sale in the Federal Taxes Tab, under Wages and Income.
Scroll to Investment income, and choose Stocks, Mutual Funds, Bonds, Other.
On the screen Choose the type of investment you sold choose Everything Else.
On the screen Tell Us How You Acquired This Property choose Inheritance. And continue answering the interview questions.
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