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brookh
February 17, 2025
Question

How can I change form 8949 to list transaction as short-term instead of long-term? (Sale of inherited home; held for less than one year; sold for loss.)

  • February 17, 2025
  • 1 reply
  • 0 views
TT asks for date sold, but not date acquired.

    1 reply

    rjs
    rjs
    Employee
    February 17, 2025

    A sale of inherited property is always treated as long-term, no matter how long you actually owned it.

     

    B
    brookhAuthor
    February 17, 2025

    Thanks.

     

    I found this, in case anyone sees this in the future:

    https://www.irs.gov/pub/irs-pdf/p559.pdf#page=14

    Holding period. If you sell or dispose of inherited property that is a capital asset, the gain or loss is considered long-term, regardless of how long you held the property.

    (This pub link presently shows a prior tax year, but the draft version of the form for the current year contains the same language.)

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