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@NCperson wrote: Upon death, assuming the estate is worth less than $15 million, there is no estate tax.  It's $13.99 million for 2025 and estate tax has nothing to do with estate income tax. You're confusing the issue, which is solely the step up in basis. 

@jeeppadre89 wrote: ....the estate would distribute any gains with any other inheritance being distributed. Is this correct? That is the typical scenario; the estate would pass any gain through to the beneficiaries, but there are instances where the estate pays any tax due on its 1041 and distributes the proceeds to the beneficiaries.   Speak with the executor of the will or administrator of the estate (I made the presumption that the property is not in a trust since you made no mention of a trust).

I appreciate your input, just need to verify that if the estate sells the property, then the estate is responsible for all gains and no individual is docked for capitol gain or has to claim any income. That the estate would distribute any gains with any other inheritance being distributed. Is this correct?

If you used direct debit from a bank account to pay the taxes owed -   Call IRS e-file Payment Services 24/7 at 888-353-4537 to inquire about or cancel your payment, but please wait 7 to 10 days after your return was accepted before calling.

The TurboTax online editions for tax year 2024 are no longer available. You will need to download the tax data file for 2024 and complete the return using the TurboTax desktop editions for 2024.   To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/ Scroll down to the bottom of the screen and on the section Your tax returns & documents.  Click on the Year and Click on Download .tax file     To complete and file a 2024 tax return using TurboTax you would need to purchase, download and install on a personal computer one of the 2024 desktop editions from this website - https://turbotax.intuit.com/personal-taxes/past-years-products/   A 2024 tax return can only be printed and mailed, it cannot be e-filed using TurboTax.

 You will be able to access the 2024 return you started by using the exact same account and user ID that you used when you started it.   But you can no longer use online software for any further changes.   Online tax preparation and e-filing for 2024  returns is now permanently closed.  The system is in transition from 2024 to 2025.    Now it is too late to use online software or to e-file. If you have any changes/corrections at all to make to your 2024 return, you now have to complete it using desktop software, which you must download to a full PC or Mac  (not to a mobile device).Then you need to print, sign and mail it.   https://ttlc.intuit.com/turbotax-support/en-us/help-article/printers-printing/finish-prior-year-return-started-turbotax-online/L9Oe4M90A_US_en_US?uid=m68tffpe   If you already paid for your online software you can ask customer support for a download of the desktop software.   They are available from 5 a.m. to 5 p.m. Pacific time Monday - Friday   https://ttlc.intuit.com/questions/1899263-what-is-the-turbotax-phone-number     If you are getting a refund, there is no penalty for filing late.  If you owe tax due, then file and pay the amount due as shown on the Form 1040, but expect a bill later from the IRS for the penalty and interest you will owe.  Only the IRS will calculate this—TurboTax will not calculate it.     When you mail a tax return, you need to attach any documents showing tax withheld, such as your W-2’s or any 1099’s.  Use a mailing service that will track it, such as UPS or certified mail so you will know the IRS/state received the return.   Federal and state returns must be in separate envelopes and they are mailed to different addresses.  Read the mailing instructions that print with your tax return carefully so you mail them to the right addresses.    

@jeeppadre89 the step-up occured already.  That occured on date of death.  Whether a) the Estate is the seller or b) the beneficiaries inherit and later sell, the same "step-up" occured.  Use the property value on the date of death as the cost basis in either scenario.   Maybe the term "step up" needs to be explained?  that is a good thing and not something that adds to income (so I do not see how it would impact insurance premium determiniation).   Upon death, assuming the estate is worth less than $15 million, there is no estate tax.  All the appreciation that occured from the time your parents originally purchased the land (and other assets) until the date of death is forever forgotten.  And since it is forgotten, so is any capital gains tax related to that appreciation forgotten.    The capital gains is measured by taking the sales price minus the value of the date of death.  That difference is income.       I am assuming the owners of the land prior to death was NOT an irrevocable trust - then the rules are different.     

You have provided no other information regarding whether you have other income besides Social Security--how much or what kind of income.    If your ONLY income is Social Security you are not even required to file a tax return, except to seek a refund of tax withheld, or if you have a 1095A for marketplace health insurance.   Provide some details without any personal information like your SSN or phone etc. and we can be more helpful to you.