Thanks @DavidD66
Regarding the sale of the inherited property. The market value was approximately $40k and we sold it for $40k. I had to split it with my sibling, so I got $20k, minus the expenses we paid to maintain it, etc. I entered this info in TurboTax under Investment Income > Stocks, Mutual Funds, Bonds, Other. What type of investment did you sell? Second home. How did you receive this investment? I inherited it. Description: Condo. Proceeds: $16,418. Fair market value when previous owner passed away? $40,000. TurboTax says "It turns out you can't take a loss on your personal-use property. We'll record this sale with a zero loss.". Is this correct? I should also mention that the property was located in another state (Florida), do I owe any taxes to that state?
Regarding the Funeral Funds. I'm not sure what information to provide. I think the union pays this to the deceased's family to help assist with funeral expenses. I tried contacting them, but haven't heard back yet.
The pension funds were paid in 2021, so I will not have to deal with this until 2022.
And the inherited cash is not taxable, so nothing to do there.
I just need to make sure I reported the sale of the inherited property correctly and find out more about the funeral funds.
