Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
I recently received some land due to an inheritance that I'm not that keen on keeping (misplaced clause, I'll keep the inheritance). The rest of the family would be happiest if the land stayed within the family.

While the one post before I found on land for stock said taxes would be due after the exchange, I'm still unclear how this would work. Is disposal of the land at the appraised price for stock possible? If it is, would the transaction occur at fair market value of the stock with basis (period and amount)of the (land) buyer transferred? If this is so, wouldn't all be better off purchasing this with a stock that was down relative to the basis?

Any help appreciated
Thanks
Print the post  

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.