Capital Gain Form 1040
I inherited bank stock upon my father's death on September 1, 2000. I sold the stock on January 3, 2001. I paid estate tax of $1,500 on this stock already. There was a capital gain difference of $1,000 from the day I inherited it to the day I sold it. Do I claim this sale of stock as a long term or short term capital gain on Schedule D of 1040 since it was inherited?
Asked on 2/06/02, 8:36 am
1 Answer from Attorneys
WILLIAM BRANDWEIN
WILLIAM A. BRANDWEIN, A PROFESSIONAL LAW CORP.
Re: Capital Gain Form 1040
It's a long term gain or loss
Answered on 2/06/02, 12:37 pm
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