Inherited property that you re-sell is considered Investment Property.
This is where you report it.
To
enter your Investments sold
Click
on Federal Taxes
Click
on Wages and Income
Click
on I'll choose what I work on
Scroll
down to Investments
On
Stocks, Bonds, Other, click the start or update button
Your cost is the Fair Market Value on date of death, plus improvements made to property prior to sale. Then your Sales Price less selling costs (realtor fees, closing costs) equals your profit or loss on the sale.
