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Deductions & credits
Read through this section --> https://www.irs.gov/publications/p504#en_US_2020_publink1000175841
Note that if you are a resident of a community property state, you need to take precautions with respect to commingling the property and proceeds (i.e., the inheritance and proceeds from the sale must be held as separate property).
‎December 11, 2021
1:01 PM