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    Judyann4's Avatar
    Judyann4 Posts: 1, Reputation: 1
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    #1

    Feb 22, 2017, 07:17 PM
    How to file inheiritance.. Do I use schedule D?
    My mother passed away leaving 4 of us 1/2 of family farm. She died in Sept. and my brother bought the other 3 out in March. The attorney filed a 1099B, so how do I report this? We sold for less than tax value.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Feb 22, 2017, 08:35 PM
    You report the sale on Schedule D. Since it is a loss of a PERSONAL asset, you cannot deduct the loss. Sorry!
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