@scocpm - all inherited assets are automatically considered 'long term' for capital gains tax purposes. THe one year holding period to get from short term to long term tax rates do not apply.
It's the same with stocks/ bonds, etc. example: Someone passes leaving you their XYZ stock. the very next day it 'shoots to the moon'. And on Day 2 you sell it all. You are taxed at long term rates; not short term rates.
