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Investors & landlords
Inherited would be the correct use for date acquired for your mother who inherited from your father. This tells TurboTax that the sale qualifies for long term capital gain tax treatment. The date of death is used to determine the fair market value (FMV) to arrive at your cost basis for sale. It is not considered for holding period.
Inheritance is always considered to have been held long term regardless of how long it was held by the deceased. I send my sympathies to you and your family.
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March 6, 2024
8:18 AM