1099-S Is inherited home sale for $200,000.00 taxable?

[Bsch4477]

Inheritance is not taxed and the cost basis of the home is the market value at the time of the death of the decedent. So if the home was sold soon after it was inherited there would be no tax. However the sale must be reported so that the IRS is aware of the circumstances. The IRS got a copy of the 1099-S.