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April 10, 2024
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Form 1041 Estate 8949 for House Sale Paper File Date Acquired "Inherited" ?

  • April 10, 2024
  • 1 reply
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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.

 

 

Best answer by M-MTax

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

1 reply

M-MTax
M-MTaxAnswer
April 10, 2024

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

LK2023Author
April 10, 2024

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

M-MTax
April 10, 2024

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