AmyC
Expert Alumni

Investors & landlords

Two steps to take:

1. You should enter the inherited house sale under investments, sale of stocks, bonds, other. It will go to form 8949 and on to Sch D. You can claim the loss on your tax return, up to $3,000 and have a carryover for future years, if necessary.

2. Enter the foreign tax paid on form 1116. Foreign tax not used this year can be carried forward up to 10 years and can be carried back one year, if you would like to amend.

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