My sister sold some mineral rights last year and now has to pay capital gains tax. We inherited the same mineral rights back in 2016. Does anyone know who can provide a retrospective mineral rights appraisal that establishes what they were worth in 2016? What we need is the tax-basis. Sure would hate for her to pay the full 20% long term capital gains since they were probably already worth quite a bit back then.
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There are several mineral appraiser engineers in the Directories tab above. They can do the retrospective type of appraisal.
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Martha is it your birthday? If it is ‘’‘Big ole HAPPY BIRTHDAY TO YOU’’’
Thank you! Got to share it with my geologist grandfather back in the day. Special gentleman.
Well I’m sure he thought you were a Special Granddaughter…Again ‘’‘Happy Birthday’’’
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Thank you. I actually ended up googling “retrospective mineral appraisal” and got quite a few results as well.
Excellent. There is a national association of appraisers, so not sure if you need the high level expertise or member of that group. I have found it helpful to use an appraiser that is generally familiar with the part of the country that I needed work done as they know their areas better.
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