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G
gagneau
April 14, 2022
Question

How do I change 1099B to a short term?

  • April 14, 2022
  • 1 reply
  • 0 views
where do I enter the date acquired of an inherited home

1 reply

F
FangxiaL
April 14, 2022

It should be the date of death of the person you inherited from. Inherited assets are always considered long term no matter how short the holding period was in the hands of the deceased. The step-up cost basis also applies to most of the inherited assets with some exceptions. So the cost basis of the inherited home should be the fair market value on the date of death.

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