Sold inherited property, assessed @$95k, FMV $69.9k, sold for $25k 16 mos. after death. How do I enter that info correctly?

posted

Connect with an expert

1 Reply

Sold inherited property, assessed @$95k, FMV $69.9k, sold for $25k 16 mos. after death. How do I enter that info correctly?

Sold $25K .... cost basis is FMV at date of death + cost of sale .... use "inherited" for the date of purchase

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post