Posted 11/7/2012 22:50 (#2685114 - in reply to #2684871) Subject: RE: Inheritance tax on Farmland ?
ok, so grandpa died in 2010 and paid and filed an estate tax return was filed. the farm passed to grandma and is valued at 5,000/acre
so 738 x 5000/acre = 3,690,000 if grandma dies after jan1 someone is goin to write a check to the irs for 1.3 million within 9 months of death assuming no other debts or assets.