Posts Tagged ‘Royalities’
Inherited money from property sold with gas production. Suggestions on how to minimize tax?
Monday, September 21st, 2009How to minimize tax burden on $ "inherited" from property sold to gas company. Land was deeded to grandchildren about a decade ago. Royalities from gas production have been split evenly during this time. They now have a buyer. How should proceeds be handled after distribution? Is this considered an inheritance? capital gain from sale? Are there certain ways to invest it that are better than other? short-term and long-term benefits? Pros or Cons?
