To report the sale of inherited property, follow these steps:
From the left-side menu, go to the Federal Section > Income, then select Schedule D/Form 8949.
2. Select Capital Gains and Loss Items
3. Input the information as shown below:
Description of Property: Provide a description of the property that was sold.
Date Acquired: Choose "Alternate Option," then select "Inherited - Long-Term" from the drop-down menu.
Date Sold: Input the date the property was sold.
Sales Price: Enter the price at which the property was sold.
Select Cost Basis Type: Choose "Did not receive Form 1099-B."
Cost: Input the fair market value.