The advice posted above by @AmyC and @Irene2805 from almost 3 years ago is still applicable with regard to the steps and information needed to report the sale of an inherited home.
You will need to determine the fair market value of the home on the date your father passed away in 2017 to use as your basis in the property; if you made any improvements to the property while you held it, you can add their cost to your basis. Report the sales price less any selling expenses where indicated.
In TurboTax, report the sale of the inherited home under Wages and Income. Scroll down the screen until you come to the section “Investment Income”
- Choose “Stocks, Mutual Funds, Bonds, Other” and select “start’ or click "Add Investment" if you have already worked on this section
- Continue. When you see a list of brokerages for import, click Enter a Different Way
- The next screen has a list of investment types. Click on Other / 1099-S, which includes homes that are not your primary residence
See this thread for another discussion and details on how to report the information on the sale so that TurboTax can calculate the gain.
@Branden999
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