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Financial Planning / Tax Strategies


Subject:  Re: inheritance of house - sale Date:  1/17/2013  5:11 PM
Author:  inparadise Number:  117382 of 128043

Loss on a personal residence isn't deductible.

Sorry I wasn't clear. We may wind up "making" money on the sale of asset only because of a step down in basis. Or we may lose more. Who knows. I'm just wondering what the impact of the sale of Dad's house dragging out endlessly will be. The executrix has been making noises about renting the place, but it sounds as thought that would be an issue on so many fronts. Wondering how much I should object.

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