Inheritance from sale of home out of state

[FortAdobe]

My siblings and I inherited my parent's home and the home was sold in 2022. I am  using home and business turbo tax, but cannot find out where I add this.  I looked up in questions that I need Form 1041 and that I now need to purchase Business Turbo Tax.  My brothers have already filed their taxes (the live in the same state as our parents, I do not).  With the repairs and work on the house before sale, they were told there would not be a capitol gains tax.  Where do I input the information about the sale and my portion of the money used for repairs and such? Which Turbo Tax do I need - I finished business and personal and cannot find any area that applies to inheritance.

[DavidD66]

You report the sale of a house your inherited similar to the way you would report the sale of stock.  You do not need TurboTax Business.  You can use any version of the CD/Download version of TurboTax, and you can use Premier or Self-Employed if you are using TurboTax Online.  To enter:

• Type "Investment sales" in the search window and click Enter
• Click on "Jump to Investment sales"
• On the page with "Did you have investment income in 2022?"  Answer Yes
• On the page with "Did you have crypto income in 2022?" Answer No (you can revisit this section later if the answer is Yes).  Then click on Continue
• On the page with "Let's import your tax info" click on "Enter a different way"
• Select "Other" to "OK, let's start with one investment type?" and click Continue
• Enter the name of the person or firm that brokered this sale
• On the page with "Now, enter one sale for _______",  for "What type of investment you sold" Indicate House (personal use) "
• "How did you receive this investment?  Indicate Inherited
• Enter the details of the sale, and the interview will walk you through entering the details of the sale

Because you inherited it, it will be a long term gain/loss.  And unless you used it as a business asset or rental property, you will not be able to deduct any loss, as it is personal property.  

[FortAdobe]

Thank you.  In Home and Business there was a category for Investments and several options below ... with the jump to link I found it.  A little confusion even with explanations given by Turbo Tax especially when most of the descriptions were for bonds and such, however, enough of the descriptions alluded to inheritance and such ...so hopefully I entered in all the correct places.