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Do you pay income taxes?
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JUST LEARNING
Posted 2/16/2019 20:23 (#7325419 - in reply to #7325408)
Subject: RE: Do you pay income taxes?


KS and NE in eastern 3rd
No that's incorrect, upon death there is an appraisal of land and the basis is stepped up to that level. If heirs sell land the next day or the next year for that appraised value there is no tax due.
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