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re: Tax Implications for Sale of Vacant Land
Posted on 2/6/17 at 6:11 pm to LSUfan2008
Posted on 2/6/17 at 6:11 pm to LSUfan2008
Generally inherited assets are stepped up to FMV. gifted assets have a carryover basis (their basis = your basis).
You'll owe tax on the appreciation since 2003.
Consult your tax advisor.
You'll owe tax on the appreciation since 2003.
Consult your tax advisor.
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