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    lucy3054's Avatar
    lucy3054 Posts: 1, Reputation: 1
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    #1

    Mar 2, 2010, 07:30 PM
    If loss on sale of inherited property is not deductible, how do you report 1099S?
    Sale of inherited property
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    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's Avatar
    MukatA Posts: 7,110, Reputation: 176
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    #3

    Mar 4, 2010, 05:18 AM

    If the property was home property, loss is not deductible. It it is business property, loss is deductible.
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