You'll need to sign in or create an account to connect with an expert.
This inherited property would be considered investment property and will be reported on a Schedule D.
Inherited property usually has a stepped up basis which means the basis would be the value on the date of death, as long as there were no transactions prior to death where the property was transferred into your name by gift or sale.
In TurboTax Premier (online or desktop) use these steps after you sign into your account.
This inherited property would be considered investment property and will be reported on a Schedule D.
Inherited property usually has a stepped up basis which means the basis would be the value on the date of death, as long as there were no transactions prior to death where the property was transferred into your name by gift or sale.
In TurboTax Premier (online or desktop) use these steps after you sign into your account.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
lhilldorfer
Returning Member
sac428
Level 1
pearl12970
Level 4
long_family
Level 2
Citizen3
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.