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post-death grain sale

jsandy
Level 1

How do you report income from a 1099-PATR which is a grain sale from grain that was inherited?

0 Cheers
5 Replies 5
sjrcpa
Level 15
Spoiler
Income in respect of a decent has the same character as it would have for the decedent. So I'm guessing Schedule F or Form 4835.

ex-AllStar
IRonMaN
Level 15

Looks like you are enjoying playing the spoiler here 😀

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
0 Cheers
sjrcpa
Level 15

I didn't even realize I did that.


ex-AllStar
IRonMaN
Level 15
Spoiler
But you did --------- so I had to give it a try to see if I like it 🤔
ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
BobKamman
Level 14

It's complicated.  See pages 3-6 of this seminar slide show:

https://www.calt.iastate.edu/system/files/premium_video_files/Farm%20Assets%20-%20PPT.pdf