M-MTax
Level 12

Deductions & credits

The holding period is NOT short term....it is long term automatically because you acquired the property from a decedent and your basis is the FMV as of the date of death of the decedent.

You enter your gross sales proceeds and then you can subtract out selling expenses like broker's commissions.

You have to indicate whether the property was held for investment or personal use. If held for personal use you are taxed on any gain but cannot deduct a loss.