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| The value of the growing crop is for the father's final 1040. It is not the sister's per se. When my father died we used the value of the inputs to value the growing crop. So, using a higher value (insurance gaurantee) will throw more income to the fathers final return. That would result in more taxes due on theat return but lower taxes on the estate. It's more or less a wash.
Too much speculation going on here for sure. We don't know the ownershilp percentages of the corp. If machinery is in the corp it complicates it further. | |
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estate settlement question
