joanmcq Posted April 20, 2023 Report Share Posted April 20, 2023 In Atx you can put INHERITED in date acquired field and it forces LT treatment too.. 1 Quote Link to comment Share on other sites More sharing options...
BulldogTom Posted April 20, 2023 Report Share Posted April 20, 2023 7 hours ago, joanmcq said: In Atx you can put INHERITED in date acquired field and it forces LT treatment too.. I didn't know that.... Thanks Tom Longview, TX Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 20, 2023 Report Share Posted April 20, 2023 On 4/17/2023 at 5:59 AM, mcb39 said: came to me with the Carryover loss already established and I don't know the particulars of the story Personally, I would want some general verification (documented) before I put a $200,000 carryforward on a tax return; it could come back to bite you if disallowed. Catherine mentioned the possibility of a 33% drop in the market value, but it is also likely the previous preparer did not know the difference between an allowable loss and a partial gift. It should not be very difficult to document a significant drop in market value given the date of inheritance vs date of sale. 1 Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 20, 2023 Report Share Posted April 20, 2023 On 4/17/2023 at 5:59 AM, mcb39 said: never been questioned by the IRS since I have known them. But that doesn't really mean anything. 1 Quote Link to comment Share on other sites More sharing options...
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