Capital loss on inherited property

[Mrb6671]

I inherited property that was land, mobile home, and horse stables.  The value of the property at the time of death was $225,000 and I sold it for $190,000 with closing cost of $16,781.   The property was not used by anyone from the time of death until sale.  I didn't think this would qualify as a capital loss but when I enter it into Turbo Tax Premier under Investments - Other and I specify it was inherited it shows a capital loss.  Is this correct?

[DianeW777]

Yes. Inherited property is considered investment property if you did not use the inherited property for personal use. The loss is allowed to offset other income. A capital loss maximum of $3,000 is allowed each year if it exceeds total capital gains with any excess carried to the next tax year or until used up.