Posted 3/4/2013 08:49 (#2940866) Subject: can some one explain how taxes are classified in farm transfers
western wi
i am alittle fuzzy in this area and there have been 2 separte people pass away locally where the farm was willed down to the family. where does the term estate tax fall in here, inheritence tax, capital gains. i'm not looking for a big laywer schpeel, just a brief explination. if a farm is given to a son and duaghter after the passing of parents, do they have to pay a tax on that?
can some one explain how taxes are classified in farm transfers
