Question

Holding Period of Inherited Property (basis):

A) Date of Inheritance
B) Date of Property Sale
C) Original Owner's Purchase Date
D) Date of Property Improvement

Answer 1

The holding period of inherited property is determined by the date of inheritance.

Step-by-step explanation:

The holding period of inherited property refers to the length of time that the heir has held the property since the date of inheritance. This is used to determine the basis or the value of the property for tax purposes when it is eventually sold. Therefore, the answer to your question is A) Date of Inheritance.