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Level 4
March 9, 2024
Solved

sale of inherited house

  • March 9, 2024
  • 1 reply
  • 12 views

Inherited a house then rented it out then sold it do I report as house or business asset sale?

This topic has been closed for replies.
Best answer by Accountant-Man

You cant use the HomeSale worksheet, that's for principal residence (Main Home) only.

 


No exclusion, but since the step up probably wiped out most or all of the gain, then NBD.

1 reply

Jim-from-Ohio
Intuit Community Champion
March 9, 2024

Schedule D

Level 4
March 9, 2024

So are you saying it doesn't matter if I use home sale or disposition of asset as long as it ends up on Schedule D?

sjrcpa
Level 15
March 9, 2024

At the time of sale was it a rental?

The more I know the more I don’t know.