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Do I report the sale of an inherited house if it sold($328,000) for less than its value at probate($329,500)?

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Do I report the sale of an inherited house if it sold($328,000) for less than its value at probate($329,500)?

The transaction should be reported, but the relevant value would be the fair market value on the date of death.

See https://www.irs.gov/publications/p559#en_US_2019_publink100099689

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Do I report the sale of an inherited house if it sold($328,000) for less than its value at probate($329,500)?

The transaction should be reported, but the relevant value would be the fair market value on the date of death.

See https://www.irs.gov/publications/p559#en_US_2019_publink100099689

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