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I sold Inherited rental property that I held less than one year. Turbotax is placing as short term sale in 4797, when inherited should be long term. How do I enter?
I've tried to enter in Rental Properties section, but no ability to enter as inherited, so Turbotax considers it as a short term loss / ordinary loss (which is incorrect).
I've tried to enter under Investment Income "Stocks, Mutual Funds, Bonds, Other" but at the end when answering as business instead of personal non-business use, Turbotax asks to delete the information and tells me to enter under "Sale of Business Property".
When entering under "Sale of Business Property", Turbotax asks to delete the information when no gain, and removes the sale.
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‎June 1, 2019
4:12 AM