topic Do I need to claim inherited homes as "purchased?" in Deductions & credits

Do I need to claim inherited homes as "purchased?"

ArcticWlf — Mon, 23 Feb 2026 12:50:34 GMT

I inherited two homes from my late father. Do I need to claim these as "purchased homes?"

Re: Do I need to claim inherited homes as "purchased?"

Anonymous_ — Fri, 10 Feb 2023 20:59:23 GMT

I am sorry for your loss.

You will want to show the homes as having been inherited (if you are selling them) since your holding period is automatically long-term regardless of how long you have actually owned them.

Re: Do I need to claim inherited homes as "purchased?"

TeresaM — Fri, 10 Feb 2023 21:09:23 GMT

You will enter the sales in the Investment section but will be able to designate that they were inherited. In general, you do not need to pay tax on the value of the inheritance, only on increased value after you received them.

Go to the Wages and Income section
Investments and Savings and Show More
Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) click Start or Revisit
Click the Add Investments button
Enter a Different Way
Select Other other Continue

Select Second Home from the investment type drop down
and Inherited on the next drop down

This will ensure that you see the questions needed to categorize this income as inherited.