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Inherited Home Sale

Hello,

I sold a 2nd home in 2022.  (Side note, just for some background - this was a home I inherited a decade ago and was not used as a primary residence, so I'm entering all of my information for this home sale into the "Investment Income" section of Turbo Tax.)

 

From my research it looks as though I can include the probate cost (probate had no other purpose than to get the house into my name) and the home appraisal (used to determine the step-up cost basis) in the "Cost or other basis" field. 

 

Correct? ....I can include the probate cost and the appraisal in my cost basis?

 

Thank you.

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Inherited Home Sale

2 Replies
M-MTax
Level 10

Inherited Home Sale

Add transfer and appraisal fees to your basis if you paid them to get the deed in your name.

Inherited Home Sale

Thank you.

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