My parents passed and we had to sell their house. Where do I enter the money from the house I inherited?

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My parents passed and we had to sell their house. Where do I enter the money from the house I inherited?

To enter the sale of your inherited home, see Where do I enter the sale of a second home, an inherited home, or land on my 2020 taxes?

The basis of property inherited from a decedent is generally one of the following:

The fair market value (FMV) of the property on the date of the decedent's death.
The FMV of the property on the alternate valuation date if the executor of the estate chooses to use alternate valuation.

Report the sale on Schedule D (Form 1040), Capital Gains and Losses, and on Form 8949, Sales and Other Dispositions of Capital Assets:

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