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ElenaMarie
ElenaMarie, Owned Boat Business, Kept Records
Category: Tax
Satisfied Customers: 155
Experience:  Worked in Payroll for Phone Co.,Owned My Own Business and Have Done Taxes for Myself, and Others
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CEMETERY PLOT

Resolved Question:

IS THE VALUE OF A CEMETERY PLOT, INCLUDABLE IN THE GROSS ESTATE OF A CALIFORNIA DECEDENT? I BELIEVE NOT, BUT CAN NOT FIND A REFERENCE.
Submitted: 12 years ago.
Category: Tax
Expert:  ElenaMarie replied 12 years ago.
Hi There,

Let me say first off, that I am not an attorney. But, I do know that in my state, or other states, that the value of a cemetery plot is considered as "real property", and is considered the same as owning a piece of property that you would have a house or other property on. Cemetery plots can be worth quite a bit of money, and you should have a deed to the property, similar to a deed to a house or other real property.

If you check out California laws, pertaining to inheritance, I am sure you will be able to find an answer to your question, but I do know that here where I am, the property, such as you describe, if passed on to a descendent, would be considered to be a taxable asset.

There are very many good experts in our group, that I am sure will be able to give to you a specific answer to your question.

Take care and good luck!
ElenaMarie, Owned Boat Business, Kept Records
Category: Tax
Satisfied Customers: 155
Experience: Worked in Payroll for Phone Co.,Owned My Own Business and Have Done Taxes for Myself, and Others
ElenaMarie and 4 other Tax Specialists are ready to help you
Expert:  Sandi Hargrove, SkyHawks replied 12 years ago.

 The value of a cemetery plot that is to be used for the funeral of the decedent is not included in the value of the estate.  If there are multiple gravesites within a single plot, the value of the plot must be prorated to establish the value of the remaining sites within the plot.


IRS code sec 2053(a)(1)