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Financial Planning / Tax Strategies


Subject:  Re: Long/Short Term Cap gain for me? Date:  7/26/2000  5:52 AM
Author:  TMFExRO Number:  38027 of 127753

I believe that when you finally sell you also get to use the original acquisition date as your acquisition date in order to determine short term vs long term gain/loss. You should check this to be certain.

It's better than this. All inherited assets are long-term, regardless of how long they were held by either the decedent or the legatee. You show "inherited" for the date acquired on Schedule D when you sell.

Phil Marti
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