Basis-1041

[gman]

Farmer dies and sister is filing estate return. All livestock and hay sales would qualify for
the stepped up basis???

[gman]

Basis

Any suggestions.

[JoshinNC]

Did the sales occur prior to death or after death

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.