Deductions & credits


@DanPaul02 wrote:

It is better to wait one year before selling the inherited property.  After one year, it becomes long-term capital gains which are taxed at a lower rate than short-term capital gains. 


The holding period of inherited property (property acquired from a decedent) is long-term regardless of how long the property is actually held.

 

See I.R.C. §1223(9)