how to report sale of inherited property on tax return?

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03-01-2022
Business

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how to report sale of inherited property on tax return?

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Miachen7910idn Miachen7910idn · Answer 1 · 2022-01-03T21:14:01-05:00

Miachen7910idn Miachen7910idn

03-01-2022

Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.

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