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Deductions & credits
Yes, the realtor you used to sell the house should be able to help you get a fmv of the house at the time when you inherited it. That is what you will use for your adjusted basis + certain closing costs. Please refer to the following link for additional information:
Please refer to the following link for additional information on the treatment of selling an inherited house.
The selling price is the selling price and is not adjusted for reporting on your income tax return.
‎April 1, 2021
12:56 PM