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My basement was flooded during an 8 inch rain last summer.It
my basement was flooded during an 8 inch rain last summer.It broke out the daylight window which caused a flood of water in my basement. The water level was 3 foot deep and all of the contents ruined.… read more
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Upon removing decommissioned oil tank, encountered a spill
upon removing decommissioned oil tank, encountered a spill and signs of previous repair not disclosed by prior (sole and only)homeowner. They said there were no leaks on one point of disclosure, but l… read more
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I received land damage payments from an oil company and gas
I received land damage payments from an oil company and gas pipeline, that took a large chuck of our property, and want declare these damage payments as a reduction in the cost basis of our land inste… read more
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Thanks. I read all the same pubs you are citing and more,
Thanks. I read all the same pubs you are citing and more, and I'm still confused. NY Sate doesn't make it easy, they have about 4 different pubs that discuss the same topics. We are not technically "c… read more
Lev
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An oil company paid surface damages in 2013 for new wells drilled
An oil company paid surface damages in 2013 for new wells drilled on our land which is used in a farm rental business. A 1099-MISC was received with the total amount reported in Box 3 Other Income. Th… read more
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So if we received $62,000 in damages from a pipeline, can we
So if we received $62,000 in damages from a pipeline, can we deduct the expenses we incurred to fix the damages? These would be re-building fences, replacing the damaged stock tank, buying cattle feed… read more
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This is for Megan C. Please review and let me know if I
This is for Megan C. Please review and let me know if I have identified the correct law(s) and the correct issue? Did I miss anything? Also, please let me know if there is a better way to format the c… read more
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A seismograph leased some land from us to do some testing for
A seismograph leased some land from us to do some testing for oil and gas. In the process of their testing they damaged some land and timber. They issued us a 1099 for the income but can we deduct the… read more
Robin D.
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My mother passed away in Spetember 2010. While she was still
My mother passed away in Spetember 2010. While she was still alive, her oil tank at her home was removed and it had significant holes in it. The oil leaked under the house and the house had to be demo… read more
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My husband and I have not filed our 2010 tax return(s). I
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I have a client who is a Equine Vet and he built a barn this
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My question is about estates. It is my mothers estate and
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If I recieve compensation for land damage due to oil & gas
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business with damage loss it caused to neighboring property
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My father passed away in 1994 and he had a house valued at
My father passed away in 1994 and he had a house valued at $25,000 AND 3.95 acer of land. We sold the house and 1/2 acer of land for $80,000. The sale was divived between the three heirs. How do we fi… read more
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I OWNED SHARES OF A LAND GRANT THAT HAS BEEN HANDED DOWN ...
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My mother is selling her farm to my brother. He is paying
My mother(age 82) is selling her farm to my brother. He is paying $300,000 @ 5% for 20 years with no downpayment, first payment due November 1, 2007. I think that the property is valued at about $750,… read more
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