lucy3054
Mar 2, 2010, 07:30 PM
Sale of inherited property
ebaines
Mar 3, 2010, 07:30 AM
You can report the sale on Schedule D. Complete columns (a) through (e) -- your cost basis is the fair market value of the property as of the date of death. If you have a loss, put $0 in column (f).
MukatA
Mar 4, 2010, 05:18 AM
If the property was home property, loss is not deductible. It it is business property, loss is deductible.