In 2015 I sold two pieces of property. One was inherited and sold at a loss. The other was a long term gain.

Turbo Tax subtracted the loss on the inherited property from the gain on the other property. Is this correct? I was under the impression that you could could not claim a capital loss on inherited property.

Your assumption is correct. You probably did not properly designate it as inherited property to the TurboTax program.

Yes it was designated as inherited. It shows on the printed form as inherited.

My thought are that while you can not have a loss deduction against other income, it is being used in the total capital gains/loss calculation. Is that possible?

Yes, that is very possible AND allowed. I forgot that you had other capital gains.

Thanks.

Glad to help!