In the transaction between your Father and yourself how was the IRS involved before the sale? Someone must have contacted the IRS. Land is considered a non capital asset and loss or gain from sales of land are reported on form 4797, if there is no attempt to report a loss how will the IRS know the land has been sold? Granted, we don't live in a free country anymore but the IRS does not have the resources to track every private transaction conducted in the USA, yet.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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