AmyC
Expert Alumni

Deductions & credits

The date you acquired the house should be inherited but if you can't get the program to accept it, pick any date a year ore more before the sale date to force the long term holding.

 

The cost basis can be any value from date of passing to probate. The IRS accepts any appraisal during that time frame. It is expected that property will not vary greatly during that time.

 

If you sold the home fairly soon after inheriting, you will have a loss on your tax return for the sales expenses.

 

I am sorry for your loss.

 

@bbobin

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