Under the Internal Revenue Code, the holding period for property acquired by inheritance is always:
A) Long-term.
B) Short-term.
C) Determined by the date acquired by the individual who died.
D) Determined by the date of death.
E) None of the above.

Question

Quizplus · Accepted Answer

Inherited property is always considered to have a long-term holding period for tax purposes, regardless of how long the decedent held the property.

Under the Internal Revenue Code, the Holding Period for Property