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November 18, 2024
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Real Estate Inherited from Life Estate

  • November 18, 2024
  • 1 reply
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I just inherited and sold a home that was held in a life estate.  I held the deed to the home in our Family Partnership, LLC.  In filing my tax return using TurboTax Business 2024 I think I should be reporting it as an "Asset Disposal" and NOT reporting it through "Rental Real Estate Disposition"  - CORRECT??

Thanks.

Best answer by Anonymous_
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1 reply

Employee
November 18, 2024
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glsouterAuthor
November 18, 2024

Thank you!!!