The holding period of property acquired by gift that is sold at a gain is always treated as having a long-term holding period.

Question

Quizplus · Accepted Answer

The holding period for property acquired by gift takes on the holding period of the donor. If the donor had held the property for over one year, then the property is considered long-term. However, if the donor held the property for one year or less, then the property is considered short-term.

The Holding Period of Property Acquired by Gift That Is