@diycpa wrote:
Thank you! That worked, but I wasted a lot of time with the Home Sale Worksheet, which I just deleted to make Schedule D correct.
Wonder if my $179 TurboTax Business software explained somewhere that the worksheet should NOT be used for inherited houses?
That's not entirely true. The "sale of your home" section is used for the sale of a home where you lived. Property that was never "your home" (your personal residence) would be handled as an investment, as you ended up doing.
It's entirely possible to live in an inherited home before selling it. I suspect in that case (although I haven't opened the software to check) you would enter the date acquired (because a date is required in that field) but there would be another field for "how was the home acquired" and the choices should include purchased, gifted, and inherited, and that will make things work out ok. (And it only makes a difference if you move into the home as your personal home but then sell in less than a year.)
