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Deductions & credits
@vkri2 said "I'm unsure what the value was in 2017 when she passed but I'm sure it was MORE than what I sold for. "
Your next question should be: is the capital loss deductible?
A capital loss on personal use property is NOT deductible. A capital loss on investment property is deductible. An inherited home, that sits idle, between inheritance and sale, is considered investment property.
‎January 31, 2022
5:33 AM