turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

my father passed away. once his estate settled, I sold his house and paid off my house. should I enter those transactions somewhere in my taxes?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
MaryK4
Employee Tax Expert

my father passed away. once his estate settled, I sold his house and paid off my house. should I enter those transactions somewhere in my taxes?

You would have to report the sale of your father's house if there was any gain on the sale.  There is a step up in basis to the value of the home on his date of death.  This amount would not be taxable income.  If you sold the house for more, you would have to report the gain (difference between your basis (date of death value plus any expenses for sales prep, fees, taxes paid etc.) and sales price.  For the TurboTax entry, please see Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes?

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question