|
parent selling real property
My mother wants to sell 65 acres of woodland that is part of her family's original land grant, so it has been in the family for centuries. Really. She inherited it from her mother.
I found a buyer and have negotiated a decent, although not great, price, since it is undeveloped.
How does she figure how much tax she will owe on the sale?
If she gives me some of the money, will I owe tax?
What to do with the cash in this FU economy? I'm trying to resist buying a new Porsche.
__________________
2009 Porsche Cayenne Turbo S; 2019 Corvette Grand Sport Coupe; 1998 Porsche Boxster; 1989 Toyota Supra ChumpCar; 1989 Alfa Romeo Spider; 1977 Porsche 911S Targa 3.2L"Bwunhilde II" chimera; 1970 Datsun 240Z 2.9L "dogZilla" project
|