Lauren W. asked
My father is selling his Farm house with buildings all sitting on 40 acres in Manitowoc county, Wisconsin. The 40 acres are technically two tax parcels split down the middle at 20 acres each. The house is on one of the 20 parcels and the unattached 2-car garage is on the other 20. He is selling it all. Will this property or a portion of this property qualify for the $500,000 exemption?
December 30th, 2024
Lori D. answered
The portion of the property that includes the home is eligible for the $500,000 exclusion under IRC ...
December 30th, 2024
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