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Capital Gains on Inherited land without a house
My wife inherited 80 acres of farm land 20 years ago. She wants to sell it for 400k . Does the sale get treated like nomal captial gains. She doesnt have any income. Should we file "Married filing separately". My Income in 2021 is 240k. 2022 it will be 150k. which year should we take the capital gains and file separately?
‎December 11, 2021
12:01 PM