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Author Topic:   capital gains
mardi kildebeck
Member 		posted 08-03-2000 12:13 PM     Click Here to See the Profile for mardi kildebeck   Click Here to Email mardi kildebeck     Edit/Delete Message
I am entering stock sales for a client who died. All stock acquisition dates are the date of death and the majority of the portfolio was sold within the year of death. How do I force long-term capital gain on Schedule D?

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John
Administrator 		posted 08-04-2000 02:42 PM     Click Here to See the Profile for John     Edit/Delete Message
On Schedule D, the Long Term section is determined by dates in the Asset/Liab Info for the account. The days between the date acquired and date sold must be a year or more (unless in prior years with different tax laws for the long-term holding period.)

If the Date Acquired is changed to (or left as) the original purchased date and not the date of death then the long-term capital gains will be determined correctly.

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