turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
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.

fmj521
New Member

Sale of Inherited Home

Inherited a home and sold for  more than fair market value.  Can I deduct the selling costs to offset the gain?  If yes how do you enter the selling costs as TurboTax does not prompt to enter selling costs.  I am entering in Investment Income(Bonds, Stocks) section.

Connect with an expert
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.

2 Replies
RichardG
New Member

Sale of Inherited Home

Yes, those costs are deductible.  Subtract the sales expenses from your total proceeds and enter that figure into TurboTax.  

Sale of Inherited Home

Selling Expenses are entered separately when using TurboTax to report a home sale.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies