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Eric616
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I have long-terms capital gains on mineral rights I inherited in 2005 and sold in 2019. I know the cost basis--but how do I indicate that these are long-term, v short?

 
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2 Replies

I have long-terms capital gains on mineral rights I inherited in 2005 and sold in 2019. I know the cost basis--but how do I indicate that these are long-term, v short?

I believe you just select the proper box to indicate that it’s long term and input the acquisition and disposition dates.

VictoriaD75
Expert Alumni

I have long-terms capital gains on mineral rights I inherited in 2005 and sold in 2019. I know the cost basis--but how do I indicate that these are long-term, v short?

You can indicate in the software that the investment was inherited. This will ensure that the gain is categorized as long-term. You will see it reported in Part II of Schedule D.

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