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

    Feb 15, 2012, 10:21 PM
    Sold inherited land at a loss, how to report?
    My wife and brother inherited their fathers land when he passed in 2006. Sold the land in 2011 at a loss. How to report on the taxes?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 16, 2012, 03:16 AM
    Your cost basis of the land is the fair market value of the land on the date of death of their father. Report it on schedule D (Form 1040).
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