Ken1122
Returning Member

Loss on the sale of an inherited home 4 months after inheritance

I'm getting mixed responses on whether an inherited home that sits vacant while in the 4 month sell preparation process can be claimed as a capital loss if sold for less than the FMV at time of death of decedent.  Some say it is personal use if not used for a business or rental thus capital loss cannot be claimed; while others say it is investment property and thus the loss can be claimed.