TaxMamas TaxQuips: Tax Quips
He Bought the Farm
June 23, 2011
Today TaxMama hears from Barb in the TaxQuips Forum with a simple question. “The farmer is selling his farm, and everything on it, to his son for $1. The basis of the farm and the machinery is approx $100,000 and FMV approx $510,000. How do I file the
Los Angeles, CA
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