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Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

I had completed Form 1041 (and NJ 1041) for an Estate with the only Income being the Sale of the decedent's House a little more than 2 years after death.

 

I proceeded as though I would e-file, so on the 8949 the Date Acquired column (b) is the Date of Death (8/31/2021). 

 

But I now have to paper file to attach a Statement. I'm ready to go, but in final check-through I realized that for a Paper 8949, the Date Acquired (column (b)) probably should be "Inherited."

 

Is this correct? If so, how do I make the change?  I can't figure out how to change the Date Acquired column (b) on the 8949 from Date of Death to "Inherited."  Thank you.

 

 

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6 Replies
M-MTax
Level 10

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

Makes no difference because your holding period is long term no matter whether you use "inherited" or the date of death which is 8/31/2021

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

Thank you, M-M Tax.  How would I change it to Inherited if I want to?

M-MTax
Level 10

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

Not sure about TT Business, sorry. I think that should be a choice in the interview? 

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

Thanks, M-M Tax, it no longer appears in the interview when I go back in to Update the section for Home Sales. i don't know, maybe I'd have to change it in Forms, but at this point, I'm inclined to just mail it with the date. It is clear that this is an Estate 1041, with the house sale by the Executor, so hopefully it's not a big deal. If it were easy to make the change, and "Inherited" would be required, or better, to have in column (b), I would do it. But I can't see how to, and TurboTax Business seems tired of me changing things!

M-MTax
Level 10

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

The date is an accurate one so that is the best course of action.

Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

Okay,, thank you M-M Tax

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