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dhos308bj
New Member

Can I take a capital loss on the sale of an inherited home?

Final sale after deductions (e.g. realtor costs, lawyer, etc.) was less than Fair Market Value.
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Accepted Solutions
bwa
Alumni
Alumni

Can I take a capital loss on the sale of an inherited home?

Yes, you can.  Just remember that "cost" is fair market value on the date of death of the decedent, and the loss is only deductible if, after the death of the decedent, the house was not used by any relative between the death and sale dates.

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2 Replies
bwa
Alumni
Alumni

Can I take a capital loss on the sale of an inherited home?

Yes, you can.  Just remember that "cost" is fair market value on the date of death of the decedent, and the loss is only deductible if, after the death of the decedent, the house was not used by any relative between the death and sale dates.

BobB7
New Member

Can I take a capital loss on the sale of an inherited home?

And note it is a long term capital loss.
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