Capital Gains and Losses

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Related Capital Gains and Losses Questions
Can capitol gains from a farm which is being strip mined be
Can capitol gains from a farm which is being strip mined be used to acquire other farms? … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I inherited a piece of land when my father passed away
Hi. I inherited a piece of land when my father passed away several years ago. I want to either sell it and give the proceeds to my son or transfer it to him so he can sell it and keep the profits. I w… read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
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I inherited 30 acres of land from my mother-in-law when she
I inherited 30 acres of land from my mother-in-law when she passed almost 3 years ago. I have been receiving royalty checks for the mineral rights since February 2017. I am now planning on selling the… read more
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My mother died in 1989. She had interest in a 100 ac farm
My mother died in 1989. She had interest in a 100 ac farm land with other family memebers. In 2016 the family was forced to sell the property due to health reasons of my mothers sister who lived and m… read more
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In consideration of capital gains taxation on sale of
In consideration of capital gains taxation on sale of inherited land which has been only modestly over the yrs with erection of two rustic buildings - the assessed value in 1965 seems quite low, resul… read more
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If you sell farm land that you inherited several years ago
if you sell farm land that you inherited several years ago is there an amount that is exempt from capital gains? … read more
emc011075
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My wife and I sold our gas mineral rights for $50,000.00 3
My wife and I sold our gas mineral rights for $50,000.00 3 months ago. I have a 401K at work that I've contributed 22,141.03 into. I'm 60 yrs old and my wife also works. Is there anything else we can … read more
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I live in Oklahoma and have sold 1/2 of my mineral rights.
I live in Oklahoma and have sold 1/2 of my mineral rights. I inherited the mineral rights from my parents and don't know how to find the worth in 1994 when mom passed away… read more
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My husband and I own farm land in IL. The farm was gave to
My husband and I own farm land in IL. The farm was gave to him from his mother she owed 180,000.00 on it. We now owe 230,000.00. We are wanting to sell it, we are asking 1,500,000.00 for it. What kind… read more
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Can I use a cost basis sale of inherited mineral rights or
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We sold some timber from some farm land in 2014 for $18,000.
Hi. We sold some timber from some farm land in 2014 for $18,000. I need help to determine the amount that is taxable and the section that it needs to be included in my 2014 return. I a married filing … read more
R. Klein, EA
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Is there anyway to determine inherited value of mineral rights
Is there anyway to determine inherited value of mineral rights to reduce capital gains amount when those mineral rights are sold?… read more
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HI - I inherited 25 acres of undeveloped property in 1979 from
HI - I inherited 25 acres of undeveloped property in 1979 from my grandmother. I sold it in 2012 for $40,000. How do I figure the base value of the property for determining what I have to pay in capit… read more
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What will be our, myself and 2 sisters Capital Gains Tax on
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My wife and I live in Michigan. We just sold a 5 acre plot
My wife and I live in Michigan. We just sold a 5 acre plot of land in Tennessee. The land originally belong to my wife's grandparents as part of a 45 acre farm. Then 15 acres of the original 45 was wi… read more
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Finishing 2011 taxes in Turbotax. Inherited 1/5 of undivided 20 acres in 2000 including mineral rights. In 2011 sold the royalty rights for the minerals for part of the land for $10,000. Was told to e… read more
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1 sister purchased from 2 brothers the home and land from their deceased
1 sister purchased from 2 brothers the home and land from their deceased parents of 2011. The father died 9 years ago and the mother died in 2011. Each brother sold their portion for $25000 each. The … read more
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In 2009 upon my uncles passing my sister, dad, and I inherited
In 2009 upon my uncles passing my sister, dad, and I inherited equal shares of his 120acres=fair market value $1100 an acre. September 3, 2011 my father passed away and his adjoining 120acres appraise… read more
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