Date Acquired Definition

Forum|Forum|1 year ago
February 26, 2025
1 reply
0 views

I have a question on this question “Did you acquire this investment more than a year before you sold it?” This question appears as I entered data from a form 1099-B. Family member purchased the stock over 10 years ago, and then passed away in 2023. Stock was transferred to the family member’s estate account in 2024 and sold. To respond to this question would one use the date the parent stock was initially acquired (over 10 years ago) or the date the stock was transferred to the estate account?

Not A Product Question

Mike9241

if you inherited the Item, the period you held it is irrelevant. Under federal tax law, they automatically get long-term capital gain treatment. Rather than enter an acquisition date, type in "inherited" - no quotes. This should automatically result in long-term treatment. for cost of inherited items use the value on the date of death.

acquisitions after the date of death do not get this treatment.