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In a land sale 2017...the said property was included in the
In a land sale 2017...the said property was included in the estate that was settled in 2002. Can the proceeds of the land sale be counted as part of the value of the estate and not taxed if estate was… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I have a client that inherited land, which she sold. How do
I have a client that inherited land, which she sold. How do I determine the basis … read more
Tax.appeal.168
Tax.appeal.168
Principal
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I have 2 questions, no, 1st question is I sold a vacant lot
1st question is I sold a vacant lot for 51K earlier this year, I owned it for over 3 years how much tax will I owe? on the property is this consider long term capital gains or will this be considered regular income? … read more
Alexander Efros
Alexander Efros
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Masters of Business Administration (MBA)
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Farm land was inherited and then sold in 2017. any tax
farm land was inherited and then sold in 2017. any tax breaks on the sale? … read more
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®
IRS Enrolled Agent, CFP(R),
Master's Degree
2,863 satisfied customers
My spouse and i inheritied land from his parents last year
my spouse and i inheritied land from his parents last year which we sold in the same year. … read more
Robin D.
Robin D.
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Vocational, Technical or Trade School
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We sold rightaway to realtor to run sewer line through the
We sold rightaway to realtor to run sewer line through the back of our property. Do we claim this on our income tax as income. We received 20,000.00 for this right of way.… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I just sold a piece of vacant land in Adams County, Wisconsin.
I just sold a piece of vacant land in Adams County, Wisconsin. Sale price was $9,000. Net, after all was said and done, was roughly $7,100. The county real estate tax statement for the last few years … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Hi, I have a similar type of question as found on your web
Hi, I have a similar type of question as found on your web site re. the inheritance of farm property from my wife to my daughter. My daughter inherited two 160 acre parcels of farm land in North Dakot… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
In 1960 prior to becoming a US citizen, my father inherited
In 1960 prior to becoming a US citizen, my father inherited a portion of land in Lebanon and was given another portion of that land. The value of that property was $320,000 at that time. That foreign … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
If I have a piece of property that was valued at $4,000 in
If I have a piece of property that was valued at $4,000 in 1983, and is sold in 2010 for $14,000. What would my capital gain tax be?… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
my parents are selling a piece of inherited real estate in
my parents are selling a piece of inherited real estate in staten island, ny. they live in vermont. dad is 81 mom is 76. they only receive ss of $1500 combined. do understand correctly that because of… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My wife is excutrix of her uncles estate. She has sold the
My wife is excutrix of her uncle's estate. She has sold the land. Is there any tax implications since she inherited the land? Her uncle paid $5.00 for three acres in 1966. She recieved $27,000. Does s… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
I inherited oil royalty that I ultimately sold for $87,000
I inherited oil royalty that I ultimately sold for $87,000 in 2008. The attorney who handled the will probate used the tax valuation, which was unrealistically low, instead of the true value of the pr… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
Trying to help my parents with estate planning. My father
Trying to help my parents with estate planning. My father owns a car dealership that I will inherit. He owns 100% of the stock and the deed for the land is in his name. The autos belong to the S Corpo… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
My daughter was left with vacant land after her ...
My daughter was left with vacant land after her husband's death about 3 years ago. She is now selling the land. How is the capital gains tax figures?… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
3,197 satisfied customers
My grandmother was an heir to a large land grant in New ...
My grandmother was an heir to a large land grant in New Mexico that was sold. I will be getting some money from the sale of the shares that my grandmother left me. How will I be taxed on the money I g… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I sold a property that was deeded to me thru inheritance.
I sold a property that was deeded to me thru inheritance. It sold for 187,000.00 I usally get earned income credit at the of the year. Its been approx 6 months since the sale. I also lost every thing … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
In a (living) parent to child transfer of ownership of ...
In a (living) parent to child transfer of ownership of land, is there an inheritance tax or the like that applies?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,808 satisfied customers
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