Ask a tax advisor on the topic of Income tax return

Sale of a farmland property

December 7, 2014 | 50,00 EUR | answered by Ralph J. Schnaars

My wife inherited an agricultural property in 2013 from a former, long-abandoned agricultural operation, which she now wants to sell to the tenant in 2015. Is the sales proceeds taxable for income tax purposes?

Ralph J. Schnaars

Dear questioner,

The answer depends on how long the property was owned by the deceased.
The time of ownership is attributed to the heir.

If I assume that the deceased, together with the heiress (your wife), owned the property for more than 10 years, the sale can be done free of income tax.

I hope I could help you with your considerations.

Best regards,

Ralph J. Schnaars

STWB Steuerberatungsgesellschaft mbH
Direct contact +49 (0)171 525 20 42
Email mail @ stwb-steuer.de