Basis-1041

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • gman
    Senior Member
    • Dec 2005
    • 676
    #1

    Basis-1041

    Farmer dies and sister is filing estate return. All livestock and hay sales would qualify for
    the stepped up basis???
    Tags: None
    • gman
      Senior Member
      • Dec 2005
      • 676
      #2
      Basis

      Any suggestions.

        Comment

        • JoshinNC
          Senior Member
          • Feb 2006
          • 1180
          #3
          Did the sales occur prior to death or after death

          Originally posted by gman
          Farmer dies and sister is filing estate return. All livestock and hay sales would qualify for
          the stepped up basis???
          If prior to death I would say it's IRD, if after death I would say it depends on how the farm was operating (LLC, sole prop, corp). BUT, I have never done a farm return before, so I'm just shooting wildly into the night.

            Comment

            Previous template Next

            Disclaimer

            Collapse

            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

            Working...