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Land & Tax Strategies

What could the tax be on that offer?

The offer is one number. What you actually keep after tax is another, and it depends on facts the offer letter never mentions. Six plain questions give you a first estimate of the gap.

Question 1 of 6

Which state is the property in?

Question 2 of 6

How did you come to own the property?

Inherited property is automatically treated as long-term, no matter how recently you inherited it. Nothing to answer here.

Question 3 of 6

What kind of property is it?

Leave this blank if you are not sure.

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This is on your tax returns. Leave it blank if you’re not sure.

Question 4 of 6

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Just double-checking: that figure is unusually high or low. You can continue if it is right.

Question 5 of 6

What is the offer or award amount?

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Relocation payments are generally not taxable and should not be entered as part of the award amount.

Just double-checking: that figure is unusually high or low. You can continue if it is right.

Question 6 of 6

Are they taking the whole property or part of it?

If you own an acre and they are taking a tenth of it, that is about 10 percent.

Not sure of the percentage? Enter acres being taken and total acres instead.

Your estimate

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Just double-checking: that figure is unusually high or low. You can continue if it is right.

This does not change the tax. It changes the cash you walk away with.

The offer letter tells us what kind of taking this is and often changes the answer.

Your file goes to a private review and is never posted publicly.

Sent. We will follow up within one business day.

The high end of the federal range is an up-to figure. Your actual number is likely lower.

If the property was a rental or business property, or the award includes interest, parts of it may be taxed at different rates. Reinvestment under Section 1033 may defer some or all of this.

This is an estimate based only on the numbers you entered, not tax advice and not a prediction of your tax return. Award allocation, severance damages, depreciation, and Section 1033 elections can significantly change the outcome. That conversation is the free call.

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We confirm your situation and tell you whether we can help. No obligation.