I sold oil mineral rights in 2022. I inherited the rights on my mother's passing in Feb 2006. I understand we need to report the income as a capitol gain but since I have owned the rights for over 10 years would they be considered long term capitol gain
01213
1 Replies
Critter-3
Level 15
Nov 3, 2022 2:24:05 PM
One year + one day = long term AND any inherited property is always long term