I’m selling an inherited home. Can I offset losses against stock gains?

I’m selling an inherited home. Can I offset losses against stock gains?

Q. I am expecting a loss from the sale of my mom’s two-family house that I inherited. It was reported to me on a Form 1041, K-1. Can I offset this loss from sale of property against any gains in my stock portfolio on my New Jersey tax return?

— Beneficiary

A. We’re sorry to hear about your mom.

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