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southern MN | The estate is it's own thing and handles it's own estate taxes - unless it has no cash & something is set up like you mention. But the estate itself is responsible for the estate tax, heirs aren't really yet involved in that normally.
The capital gains only kick in when the heir sells off the land; which should be stepped up & on a level playing field now before any land is sold off.
So, gotta figure out what tax we are talking about.
--->Paul | |
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Capital Gains Tax Question
