Holding Period
Response to the following problem:
State the time when the holding period begins on capital assets acquired by the following methods:
a. Capital asset acquired by gift, if sold at a gain
b. Capital asset acquired by gift, if sold at a loss (assume the fair market value (FMV) of the property was less than the donor's basis at the time of the gift)
c. Property inherited from a decedent dying in 2014