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October 11, 2024
Question

Under the community property laws, where do I enter in Turbotax to let IRS know the Home purchase price I entered is the step up price?

  • October 11, 2024
  • 2 replies
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2 replies

Employee
October 11, 2024
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totoro11Author
October 11, 2024

This is to report home sales, not the rental property.   I am eligible for step up home sales price, I am trying to find out , in Turbotax, where I should enter to let IRS know that the purchase price I am entering is the step-up home price.  I would appreciate your guidance in this matter.

VolvoGirl
Employee
October 11, 2024

Just enter the stepped up value.  Why do you need to tell the IRS it’s stepped up?  If they have a question they will mail you a letter.  The IRS doesn’t know what you originally paid.  

totoro11Author
October 11, 2024
Thank you all for providing me great guidance.  All responds are very helpful.  I will follow your guidance.  Thank you,