My wife and her siblings inherited a house and sold it. Her share was 10K. Do we pay taxes on this money?

[KittyM]

Yes, the sale of an inherited home is reported as the sale of an investment, and ends up on Form 8949 / Schedule D.  To enter your sale in TurboTax,

• In your  Federal return, choose the tab for Wages & Income
• Scroll down to Stocks, Mutual Funds, Bonds, Other and Start (You may need to click Add more income to see this item.)
• On the first page Did you sell any investments in 2018? answer Yes
• On the next page  Did you get a 1099-B or a brokerage statement for these sales? answer No
• On the page Choose the type of investment you sold, select the radio button for 'second home' 
• On the page, Tell Us How You Acquired This Home, choose inheritance
• Continue to enter the property information and your proportionate share of the sale proceeds.

Each of the inheritors report their basis in the asset (usually the value on date of death / number of inheritors) and their proportionate share of the sale proceeds on their tax return to compute their gain or loss on the sale. 

[william61]

The basis for the value of the property is found on the property assessment form for 7-1-18. Is that appropriate?