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TaxSlayer - 1040-SR (Web-based) | How to Report the Sale of Inherited Property
TaxSlayer - 1040-SR (Web-based) | How to Report the Sale of Inherited Property

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Kenneth Lowe avatar
Written by Kenneth Lowe
Updated over 2 weeks ago

To report the sale of inherited property, follow these steps:

  1. 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.

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