Tax

Have a tax question? Ask a tax Expert

Connect one-on-one with {0} who will answer your question

Related Tax Questions
If you inherit farmland and 3 siblings agree to sell it in
if you inherit farmland and 3 siblings agree to sell it in 2018, will you owe taxes? … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,937 satisfied customers
In 2006, while my grandmother was alive, she transferred her
In 2006, while my grandmother was alive, she transferred her 1/4 interest in 1200 acres of farmland that her father purchased in 1946, to her grandchildren. An appraisal was done in 2006 and the farml… read more
Christopher B, Esq.
Christopher B, Esq.
Attorney
Juris Doctor
1,747 satisfied customers
Around 1942 my great grandfather purchased 1200 acres of farmland
Around 1942 my great grandfather purchased 1200 acres of farmland in Mississippi for $6.00 dollars an acre. Later he purchased 636 acres of farmland in Louisiana. He gave his farmland to his two daugh… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,749 satisfied customers
When Dad passed away in 2001, s farmland was left to me & my
When Dad passed away in 2001, his farmland was left to me & my siblings under a Life Estate provision for Mom. 2001 farmland value about $2000/acre. Mom passed away in 2015; farmland will soon be sold… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
6,646 satisfied customers
My mother died in December 2013 owning 60 acres of farmland
My mother died in December 2013 owning 60 acres of farmland with no cost basis. We re-deeded the land in the name of the Estate of my mother. The Estate then sold the farmland in May 2014. Is the land… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
8,655 satisfied customers
My mother inherited farmland and placed it in a trust with
My mother inherited farmland and placed it in a trust with my brother as controller of the trust. She passed last December and the three heirs of her estate are my brother, my sister and myself. If we… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,749 satisfied customers
When our home was foreclosed on 17 years ago my mother in law
When our home was foreclosed on 17 years ago my mother in law bought it and the 11 acres to save it for our children. It was not lived in the past 12 years and bats and mice had overtaken it. Tax valu… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,908 satisfied customers
My mother died 7/4/2010 leaving nine living children. My parents
My mother died 7/4/2010 leaving nine living children. My parents had established a family trust prior to my father's death in l996. Two siblings were named as trustees by my father and the same two we… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
My grandmother owns 207 acres of farm/wooded land. In her will
My grandmother owns 207 acres of farm/wooded land. In her will she is leaving 167 to me (Missy) and 40 to a girl (Anna) that was raised by our family as another grandchild (but never made legal). Anna… read more
Jacy
Jacy
Bachelor's Degree
567 satisfied customers
Ill be receiving $100k this week from the sale of family farmland,
I'll be receiving $100k this week from the sale of family farmland, my inheritance. Can one invest these funds as a transfer into a 1031 without having to purchase real estate or land in turn? If so, … read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My father and mother own 240 acres of iowa farm land valued
My father and mother own 240 acres of iowa farm land valued at $4000 and acre, also own 3 homes . they are renting out all peoperties at this point. What will be the best way for them to dal with taxe… read more
Anne
Anne
Master Tax Preparer
2,373 satisfied customers
In June 1999 I inherited 36 acres of farmland after the death
In June 1999 I inherited 36 acres of farmland after the death of my mother. When the estate was appraised the land was appraised at $2400/acre. I am going to sell the land and have found a buyer who w… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,908 satisfied customers
We just sold a piece of farm property for a good price, $400,000.
We just sold a piece of farm property for a good price, $400,000. We live and our residence is in St. Paul is worth $300,000.. Can the farm property be used for that one time capital gains exemption… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,908 satisfied customers
my grandmother left 300 acres of farmland in her will to my ...
my grandmother left 300 acres of farmland in her will to my mother. She sold 40 acres of this inherited property for 3500.00 per acre. Does she pay capitol gains on that money?… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I have a brother and two sisters. We own 120 acres in ...
I have a brother and two sisters. We own 120 acres in Southwest Iowa. Our father passed away in 1989. Our mother in February of this year. Ownership of the farm was transferred to us 5 years ago. Our … read more
RD
RD
Self Employed
Master's Degree
1,164 satisfied customers
My grandmother died in 1988 owning a tract of farmland.
My grandmother died in 1988 owning a tract of farmland. Under the terms of her Will, my father inherited a tract of land for his personal use and he was granted a life estate on the remainder of the f… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,908 satisfied customers
My mother-in-law is 75. She owns 440 acres of farmland and ...
My mother-in-law is 75. She owns 440 acres of farmland and 5 children. Whta should she do so her children obtains this land with little or no tax and still be sble to live comfortably? [email protected]… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,908 satisfied customers
Do I owe capital gains taxes to the State of Indiana if I ...
Do I owe capital gains taxes to the State of Indiana if I sold 65 acres of farm land to a LLC. I inherited the land over 5 years ago and at that time the land was worth $2050/acre and paid the inherit… read more
Jon Andrews
Jon Andrews
CPA
3,038 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

18,937 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x