Ask Experts Questions for FREE Help !
Ask
    execu1's Avatar
    execu1 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 14, 2009, 05:15 PM
    Estate taxes
    I am trying to figure out which form to use to claim a loss on the sale of my dad's house. Turbotax leads me to form 4797, sale of business property, however I have been advised to use schedule D. Doe anyone know the correct answer?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Apr 14, 2009, 05:19 PM

    More details are necessary. Did you sell the house AFTER it was transferred to your name or did you sell it as executor of his estate?

    If afterwards, how long have you had it and are you sure there was a loss? On what basis do you think it's a loss?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Estate Taxes [ 1 Answers ]

AS FOLLOW UP TO HARLEY HARRY'S QUESTION(BELOW POSTED):::confused: If there was an inheritance from a Parent dying in PA and estate taxes were paid in PA ~ what are the liabilities in NJ ~ if any? If the estate taxes were not paid in PA ~ are there "double indemnities" for living in NJ and the...

Estate taxes and gift taxes [ 3 Answers ]

I am the sole heir and executor of my late step Dad's estate. I sold the house as is for 155,000.00 and there waere two accounts totaling 20,000.00 plus two CDs totaling $8,000.00. Do I pay taxes on this? The estate tax is in IL and I live in CO. Also, if I give my brother and sister each...

Estate Taxes [ 1 Answers ]

How does the California exemption for inheiritance taxes apply if there are two beneficiaries?

Estate Taxes in New Jersey [ 1 Answers ]

If a bank account is titled in my wife's name and sons name and I die, is her money considered part of my estate? Thanks Gamrobe

Estate taxes [ 2 Answers ]

How much must an estate be worth in California before you have to pay state inheritance tax?

View more questions Search