Tax Expert Noel Spencer: Inherited Property Holding Period


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  • Noel Spencer



What is my holding period for inherited property I sold within one year of the decedent's death?


Inherited property is automatically deemed to be held more than one year [1223(9)]. Thus, the sale of inherited property will result in a long-term gain or loss, regardless of how long the heir actually holds it.

Noel Spencer
735 Broadway, Newburgh, NY 12550
845-220-2080
Ask Noel Spencer a Question
www.spencersfinancial.com




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