My husband inherited property in the UK. The property was sold. My husband and his sister each received 50 percent of the sale. How do I enter 50 percent of sale?

In Turbo Tax, enter the information under the Income & Expenses tab.

1. Look for Investment Income on the income list. If you don't see it click on Add More Income in the lower left corner.
2. Select Stocks, Mutual Funds, Bonds, Other and click Start or Edit to the right.
3. Answer the first question, "Did you sell stocks, mutual funds, bonds, or other investments in 2019?" Yes.
4. Answer the second question, "Did or will you receive a 1099-B form or brokerage statement for these sales?" No.
5. Enter a description of the property on the next screen.
6. Select a description for the property from the drop down list.
7. Select "I inherited it".
8. Enter your information about the sale. 
9. "Proceeds" should be half of selling price and the date would be the date that the sale was recorded. 
10. In the box labeled, "Fair market value when previous owner passed away" enter your total basis. Your total basis is the value of the property when the original owner passed away, plus any improvements you made and the cost of selling the property. You should enter half of the total basis. 

Be sure to convert the amount to US dollars. For 2019, you divide the number of British pounds by 0.784. Click here if you need the exchange rate for a different year.

If he paid income taxes in the U.K. on this property, you may get a tax credit on the U.S tax return for that. Search for Foreign Tax Credit to report that.