Final answer:
The holding period for property acquired by inheritance is determined by the date acquired by the individual who died.
Step-by-step explanation:
Under the Internal Revenue Code, the holding period for property acquired by inheritance is determined by the date acquired by the individual who died. This means that the holding period for inherited property is not always long-term or short-term. It depends on when the property was originally acquired by the deceased individual.
For example, if the property was acquired by the individual who died more than a year ago, then the holding period for the inheritor would be long-term. On the other hand, if the property was acquired less than a year ago by the individual who died, then the holding period for the inheritor would be short-term.
Therefore, the correct answer is: None of the above.