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vanidosa27
vanidosa27
Level 3
July 10, 2025
Solved

8949 not allowing loss on inherited land

  • July 10, 2025
  • 2 replies
  • 10 views

Can someone please tell me how I need to enter the sale of inherited land as held for investment so that the loss is allowed? Thank you in advance! 

 

Best answer by sjrcpa

Remove all entries from the sale of home section. Make believe it was a sale of stock and enter like that.

2 replies

K
KarlIntuit Community Champion
Intuit Community Champion
July 10, 2025

I would uncheck "sale of home." If you're already at a loss, you don't need a gain exclusion.

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    vanidosa27
    vanidosa27Author
    Level 3
    July 10, 2025

    Hi Karl! I unchecked the sale of home box and it removes the sale from Schedule D and the 8949 disappears. 

    sjrcpa
    sjrcpaAnswer
    Level 15
    July 10, 2025

    Remove all entries from the sale of home section. Make believe it was a sale of stock and enter like that.

    The more I know the more I don’t know.
      Accountant-Man
      Accountant-Man
      Level 13
      July 19, 2025

      On this post you sold it before you bought it. How?

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