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Business & farm
It is a long-term gain. According to the IRS, for an estate, "property acquired from a decedent is treated as held for more than 1 year". When asked how the property was acquired, indicate "death" or "inherited". If the program doesn't ask, you may need to adjust the acquisition date so that it is long-term.
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‎February 24, 2025
3:51 PM
1,306 Views