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Get your taxes done using TurboTax
Yes, you are correct, The farm land would be sold as farm land, not a house.
The question is whether or not the farm land was an active farm and being farmed by the decedent before death and after death by the executor of the estate?
If so, then it is the sale of farm land, business property, not the sale of an inherited house.
‎April 6, 2021
6:43 PM