Sold Mineral rights

ggm1928 — Sat, 01 Jun 2019 20:52:14 GMT

I'm unable to determine the FMV of mineral rights inherited in 1962 and sold in 2018. What can I do?

If the Estate Administrator in 1962 did not have a value...

MarilynG — Sat, 01 Jun 2019 20:52:16 GMT

If the Estate Administrator in 1962 did not have a value for the mineral rights you inherited, you may need to consult a local mineral rights expert.

If the sales proceeds were minimal, you could report your cost as $0 and have long-term capital gains to report.

If not, here's more info:

https://ttlc.intuit.com/replies/6681529

topic Sold Mineral rights in Investors & landlords

Sold Mineral rights

If the Estate Administrator in 1962 did not have a value...