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My husband just sold his interest in his New York farm to
My husband just sold his interest in his New York farm to his cousin and will need to pay capital gains to the IRS. He paid New York State capital gains during the sale process. My question is do we n… read more
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im getting a $158,000 settlement from a farm sale that is part of an inheritance. I know I need to pay capital gains taxes. just wondering how much that might be. … read more
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I am completing our taxes for 2018. We live in California and are retired. We received a 1099 for income generated via oil and gas exploration on a farm we have in Oklahoma dated 2018. The bank in Okl… read more
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My wife and her siblings inherited a farm from her mother in
My wife and her siblings inherited a farm from her mother in 2014. The estate finally closed in 2018 and the farm was sold at a loss from appraised value at the time of the inheritance. The total loss… read more
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My Turbotax priemier version will not compute the capital gains tax properly of Form 6252. Installment sle is for 2018 and 2019 and it computes entire tax for 2018 year. … read more
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how much tax will i have to pay in 2019 on the sale of $40,000 long-term held stocks? Our taxable income is reduced to about $ 16,000 due to a substantial loss of my husband's S-Corp.We receive $ 46,0… read more
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This is a significant tax issue. Allocation of basis and proceeds from sale of combined business/house where they were bought together but then sold 2 months ago. Schedule F farm, and farmhouse. Sold … read more
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My mom was living in China. She died in 2012 and left her
Hello -- My mom was living in China. She died in 2012 and left her apartment to 3 of us (my brother, sister and I). No one lives in that apartment since then. Due to her second marriage and some dispu… read more
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My parents are looking at selling the family farm, but are
I need help. My parents are looking at selling the family farm, but are confused on the capital gains tax. My parents have lived on this family farm their entire life and their personal home is on the… read more
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I have sold farm land I inherited in 1967 and will be paying
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My Dads (he is 66) total income this year is around $32,000
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We owned 100 acres on our farm, and sold 46 acres of it. Will we have to pay tax on it since it was part of our home? If so, could we put the profit into land elsewhere and not have to pay? and is the… read more
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We have just sold a sole proprietorship and need to know how the non-compete agreement, customer list and goodwill are taxed. Are they ordinary income, which we'll have to pay social security tax and … read more
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My grandmother passed away a few years ago, at the time of her death she left her undivided interest in the farm land she owned with my grandfather as follows. 1/2 to my grandfather and the remaining … read more
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