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BobKamman
BobKamman
Level 15
May 19, 2026
Question

Sale of Inherited Principal Residence

  • May 19, 2026
  • 2 replies
  • 14 views

So, is it too much to ask that the "Home Sale Worksheet" allow entry of "inherited" instead of a purchase date?  They lived in it four years after his sister left it to him. 

Well, OK, it's easy enough to override.  At least on a paper 8949.  

2 replies

sjrcpa
sjrcpa
Level 15
May 19, 2026

Does it really matter?

The more I know the more I don’t know.
    BobKamman
    BobKammanAuthor
    Level 15
    May 20, 2026

    Does anything really matter?🤔 🤔

    When the form asks date purchased, and it wasn't purchased, and for stock sales it allows "inherited," it's just annoying.  

      Accountant-Man
      Accountant-Man
      Level 13
      May 20, 2026

      It's also annoying that the Sch D in the 1040 program asks for inputting the Date Sold first then the Date Acquired (left to right), but in the 1041 program Sch D is reversed.

      All in the same program, Pro Series.

      ** I'm still a champion... of the world! Even without The Lounge.
        Just-Lisa-Now-
        Just-Lisa-Now-Intuit Community Champion
        Intuit Community Champion
        May 20, 2026

        Using INHERITED just makes it Long Term, if they lived there 4 years, its already long term.

        ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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