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sale of inherited property - loss?
My mother died in 12/23. My three sisters and I inherited equal shares of her home. The date of death valuation of her home was 432,000. We sold the house for 432,500 in 10/24. We each received a 1099-2 for 108,125. We each received gross proceeds of 97050 due to costs associated with the sale. When I enter these amounts on TurboTax, it does not recognize a loss. Shouldn't I have a loss on Schedule D?
‎January 24, 2025
11:40 AM