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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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Thank you if I had any addl questions. I do have one..what

Customer Question

Thank you for asking if I had any addl questions. I do have one..what if I cannot find records as to how my great grandfather gave the land to his children (my grandmother) to determine if it was a gift or at his death. if I can't find out that info, unless I get audited by the IRS, is it THAT large of a problem to deduct off the 6.00 per acre x 1200 acres or 7100.00 off of the 85k I will get ?
Submitted: 1 year ago.
Category: Tax
Customer: replied 1 year ago.
I do know that in 1946 he paid 6.00 per acre on 1200 acres so that is information I would be able to substanciate to the IRS in an audit
Expert:  Christopher B, Esq. replied 1 year ago.
It is normally my policy to wrap up the previous question before moving on to a different question. Could you please rate the previous question for me? We as experts are not compensated by the site a dime until the customer makes that rating. I would GREATLY appreciate (as would my family :)) if you could do that for me. There should be smiley faces or number from 1-5 to choose from. This extra step will cost you nothing extra and will ensure that I will be compensated by the site.