2283145
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

TT calc cap gains as LT for land I inherited and sold < 1 yr., no place to enter acq date, only date sold. How do I change the calc method for capital gains to ST?

Need to force TT TO use ST rather than LT Capital Gains method, how do I do that on Sch D?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
ColeenD3
Expert Alumni

TT calc cap gains as LT for land I inherited and sold < 1 yr., no place to enter acq date, only date sold. How do I change the calc method for capital gains to ST?

When you enter the sale of land, you will have similar screens to selling a second home. Please see the screenshot with the purchase date shown.

 

TT calc cap gains as LT for land I inherited and sold < 1 yr., no place to enter acq date, only date sold. How do I change the calc method for capital gains to ST?

After doing a lot of searching I discovered Inherited Property is always taxed at LT rate.  Thank you for your response

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question