BobKamman
Level 15
03-11-2022
12:40 PM
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Inherited property is always long term (even when it's inherited by a trust).
These days, there could be a gain. I just had a question from someone whose decedent died in late 2019 owning property sold in early 2021. House prices went up 40% during that period, or about 3% a month. In your case, it might be easier to claim that sales price is also FMV at date of death, since the sale apparently was shortly after death.