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If the house was held as investment property then you can claim a loss.
Yes. Report the sale, it may not be a taxable transaction but you should report the sale.
follow these instructions. and at the bottom it talks about Inherited home.
These are entered in the investment section of TurboTax. Follow these instructions:
You won't pay taxes on the first $250,000 (also known as a gain) you make from the sale of your home. If you're Married Filing Jointly, you won't pay taxes on the first $500,000.
That income is free and clear as long as:
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