Capital gains on inherited property?

jkuborn · ‎June 5, 2019

We lived on the property for several months.

IsabellaG · ‎June 5, 2019

You would report the gain on the sale of this property in the Investment Income Section, under Stocks, Mutual Funds, Bonds, Other.

Say that you did not get a 1099-B, and that the property you sold is "everything else."

On the screen Tell Us How You Acquired This Property, check Inheritance.

Your cost basis in the property is the Fair Market Value of the property as of the date of Death.

If you had a loss on the sale, on the screen Loss on Property check that you used this property for personal purposes.

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