topic filing taxes of deceased person in Get your taxes done using TurboTax

filing taxes of deceased person

Info4464 — Wed, 19 Feb 2025 18:38:08 GMT

I am the executor of my mother's estate and sold her home in 2024.. I am trying to file a final tax statement and i have to submit the "the adjusted cost basis" for the home. I dont have that information. Is the adjusted cost basis the amount that she paid when she purchased the home?

Re: filing taxes of deceased person

RobertB4444 — Wed, 19 Feb 2025 18:40:20 GMT

No. The adjusted cost basis is what the home was worth when she passed. If you had an appraisal done you can use that value, or the value from the tax rolls.

@Info4464

Re: filing taxes of deceased person

Info4464 — Wed, 19 Feb 2025 18:44:48 GMT

Thanks but i would need to file a final return? I thought I read that if the home was sold for less than 250,000 that a return is not needed or did i read that incorrectly?

Re: filing taxes of deceased person

RobertB4444 — Wed, 19 Feb 2025 18:46:49 GMT

You read that incorrectly.

If she had sold the home while she was still alive then that might apply. But not for her estate.

@Info4464

Re: filing taxes of deceased person

Info4464 — Wed, 19 Feb 2025 18:51:39 GMT

Thanks