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Deductions & credits
Spoiler
Your basis in the home will be the date of death or 12/31/14.... plus any costs you incurred and capital improvements. You probably won't have much of a gain, if any. What did you use the house for since inheriting, kept it as investment, rental, personal use?
**I don't work for TT. Just trying to help. All the best.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
***Say "Thanks" by marking as BEST ANSWER and clicking the thumb icon in a post and that I solved your question
**Mark the post that answers your question by clicking on "Mark as Best Answer" I am NOT an expert and you should confirm with a tax expert.
‎October 22, 2019
12:10 PM