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Investors & landlords
@BoomBoomJ wrote:
Isn't this supposed to be considered "Long Term" rather than "Short Term"? And ultimately, what difference might it make?
Yes, the holding period for property acquired from a decedent is long-term.
The difference is short-term capital gains are taxed at the same rate as ordinary income while long-term capital gains get preferential (LTCG rate) treatment.
‎July 14, 2020
4:36 PM