Should they remove the estate tax or the death tax?

[Pulgasari]

Originally Posted by Blingy [You must be logged in to view images. Log in or Register.]

So you're saying TurboTax fucked up? She inherited a piece of land that's in the middle of nowhere; not worth diddly to any type of developer. However the mineral rights are worth a fair amount. According to TT she needed to send in a big chunk of cash to cover capital gains.

TY for the heads up. I'll tell her to go bug either a CPA or tax attorney.

The IRS views the profits from the sale of mineral rights as a capital gain, not income.

I know nothing this is a paste.