Loss on sale of inherited house

Twin · ‎06-27-2020

I have a client who inherited her mother's home. Why is the loss being disallowed in ProSeries?

sjrcpa · ‎06-27-2020

Losses on personal use property are not allowed. Could that be it?

The more I know, the more I don't know.

garman22 · ‎06-27-2020

Inherited loss should be allowed. Its "possible" that the estate has not been finalized......could that be it? I am going on memory here. So, I apologize if I am wrong.

Or what @sjrcpa said. 😁

Accountant-Man · ‎06-27-2020

Call it an investment, not a personal asset. Use Schedule D.

** I'm still a champion... of the world! Even without The Lounge.

mdtao31 · ‎06-28-2020

was a "k1" issued 2 u??

Loss on sale of inherited house

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