Deductions & credits

Thanks so much! 

 

I'm assuming the Cost Basis is the value of the home the day it was inherited and the Sales Proceeds is the total sale price before expenses (box 2 on 1099-S).  I inherited the home March of 2020 and sold it in July of 2020 therefore I'm sure I can just put the same number (225,000) in both of these boxes. 

 

Thanks again for the help.  Hopefully they will fix this feature to make it easier for people to understand.

 

Cheers,

Rob