Ostroff, Fair and Company
*Ostroff, Fair and Company>>>Other Taxes

I need a tax accountant to read this,, please?


i am selling my farm property and i would like to know if i have to pay capital gains tax in the state of michigan? it is 56 acres and i have to pay the ex wife 50,000 dollars for divorce settlement, any info would be appreciated,,

thank you

You need http://www.turbotax.com/ .
There are several questions about the propterty it will ask you. It will gather some info from you about it and let you know if you need to pay capital gains tax. You can also get the Turbotax for Michingan and do your state taxes the same way.
Your question cannot be answered here because it depends on a few things.
Turbotax will give you an answer.
Try looking on the state website. It is www.Michigan.gov/treasury. I'm not sure of the rules in that state.
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