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Taxpayer inherits property from a decedent, who died on January 15, 2021. Decedent acquired the property on June 1, 1990 for $45,000. Property is
Taxpayer inherits property from a decedent, who died on January 15, 2021. Decedent acquired the property on June 1, 1990 for $45,000. Property is appraised at $200,000 on January 15. Taxpayer receives the property on November 1, 2021 when the property is valued at $190,000. Taxpayer's holding period starts on O Holding period is automatically long-term O June 1, 1990 O January 15, 2021 O November 1, 2021 July 15, 2021
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