Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

how to report sale of inherited property on tax return?

Sagot :

Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.