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| On February 1, 2013, Rick Landerholm learned that he was bequeathed a baseball card collection under the will of his uncle, John. John had a basis in the baseball card collection of $2,000. Fair market value of the collection on January 19, 2013, the date of John’s death, was $10,000 and had increased to $15,000 six months later. The executor of John’s estate elected the alternate valuation for estate tax purposes. Rick sold the baseball card collection for $12,000 on March 1, 2013, the date that the executor distributed the collection to him. Assuming that Rick is not a dealer in baseball cards, Rick should treat the baseball collection as a A. Short-term capital asset. B. Long-term capital asset. C. Long-term Section 1231 asset. D. Short-term Section 1231 asset. |