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Deductions & credits
Yes, if it is purely an investment property and you are in the real estate investment business, then it would be treated like any other property you sold, even if you obtained it through an inheritance.
If you are a realtor, and this is not your normal line of real estate work, then it would not make a difference. So, basically it depends on how much the inherited property lines up with your regular line of real estate work.
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‎April 17, 2024
1:46 PM