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Subject:  Re: Long/Short Term Cap gain for me? Date:  7/26/2000  10:33 AM
Author:  TMFExRO Number:  38036 of 123001

Does anyone know how this rule will interact with the soon-to-come ultra-long-term capital gains rates?

My money says Congress never thought about it. There's no mention of inherited property where they set the rate (IRC 1(h)), and there's no mention of the 5-year holding period in the holding period section (IRC 1223).

IRC 1223 establishes the holding period for inherited property by saying that should one sell it within 1 year of inheriting, one will be considered to have held it for more than 1 year. (I just love the straightforward way they put things in the Code.)

I assume this is one that IRS will have to clear up, and a cu