I added the sale under investment sales and selected "Everything Else" as the type of investment sold.
You'll need to sign in or create an account to connect with an expert.
From the IRS Publication 544 Sales and Other Dispositions of Assets (https://www.irs.gov/pub/irs-pdf/p544.pdf), “If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it.”
Therefore, inherited property is treated as long term property.From the IRS Publication 544 Sales and Other Dispositions of Assets (https://www.irs.gov/pub/irs-pdf/p544.pdf), “If you inherit property, you are considered to have held the property longer than 1 year, regardless of how long you actually held it.”
Therefore, inherited property is treated as long term property.Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ramaonline
New Member
zbchristy501
Returning Member
ssmith2
Level 2
Al-K
New Member
MCY1
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.