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auntpete
New Member

I have inherited property from my brother (deceased 09/04/2015) and sold 04/27/2016. it is being considered as long term and was only held 7 months before it was sold.

This pertain to my 1099-S
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Accepted Solutions
PaulaM
Employee Tax Expert

I have inherited property from my brother (deceased 09/04/2015) and sold 04/27/2016. it is being considered as long term and was only held 7 months before it was sold.

Inherited capital assets are considered long-term, regardless of how long you held them.

https://www.irs.gov/publications/p544/ch04.html

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1 Reply
PaulaM
Employee Tax Expert

I have inherited property from my brother (deceased 09/04/2015) and sold 04/27/2016. it is being considered as long term and was only held 7 months before it was sold.

Inherited capital assets are considered long-term, regardless of how long you held them.

https://www.irs.gov/publications/p544/ch04.html

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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