Welcome New User! ( Create Account | Sign In )
Question

Submitted 366 days ago...

dodell

dodell

New User (1)

Was just curious when you sell your portion of a farm you inherit do you pax tax on original value or value when you inherited

When you inherit a farm and sell a portion off do you pay tax based on original value or value at time you inherited it???

 
 
 
Answers

Awarded Answer (What’s This?)

Answer 1 / 1

Submitted 366 days ago...

Ruchele

Ruchele

Brain (3,118)

You pay taxes on it's selling price.

 

This Question was awarded 347 days ago therefore you can no longer post an Answer. However you may post a comment below.

 
 

Add A Comment

Email Subscriptions
Author adds clarification
All new responses

Related Questions
 
Congratulations!
Ruchele

Ruchele

Brain (3,118)

Ruchele answer was awarded and will earn ongoing royalties from this thread.

How This Works?