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Level 2
posted Feb 17, 2025 12:03:31 PM

How can I change form 8949 to list transaction as short-term instead of long-term? (Sale of inherited home; held for less than one year; sold for loss.)

TT asks for date sold, but not date acquired.

0 2 1051
2 Replies
Level 15
Feb 17, 2025 12:34:17 PM

A sale of inherited property is always treated as long-term, no matter how long you actually owned it.

 

Level 2
Feb 17, 2025 12:47:11 PM

Thanks.

 

I found this, in case anyone sees this in the future:

https://www.irs.gov/pub/irs-pdf/p559.pdf#page=14

Holding period. If you sell or dispose of inherited property that is a capital asset, the gain or loss is considered long-term, regardless of how long you held the property.

(This pub link presently shows a prior tax year, but the draft version of the form for the current year contains the same language.)