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June 6, 2019
Question

Is inherited real estate (house) considered investment property when it was not used for something else prior to selling it?

  • June 6, 2019
  • 1 reply
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1 reply

Employee
June 6, 2019

The sale of inherited real estate would be reported under investment property. 

See the following instructions:

https://ttlc.intuit.com/replies/4241480

swindcoAuthor
June 6, 2019
But this was not a second home.  My wife's mother died in 2012 (the inherited date) and the place sat empty until it was finally sold for less than FMV in 2015.  Is the loss deductible?