- quote -

If the house has it's own septic system, check with the
department of health to see if there is a minimum lot size
required for the system. Around here, it's 5-acres. Many
jurisdictions have such minimum lot size requirements
although they are not considered "zoning".

--
To reply to me directly, remove the XXX characters from my
email address.

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Phoebe Roberts, EA wrote:
- quote -

I have noted some folks use one half acre as the land for
the home. In many rural areas near Richmond most home sites
now are about 10 acres in size. One half acre sites are in a
town.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247
EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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John wrote:

- quote -

As much as was used as personal residence. If he's using
the pasture land to graze his own cattle (which are the
variety that walk too close to the deep freeze, as opposed
to the variety that get sold), I'd consider that to be use
as part of his residence. If he leased it to someone else
to graze their cattle, it probably wasn't used as part of
his residence. Same with the timberland; if he goes hiking
and camping there regularly, that looks pretty personal.

Phoebe

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"John" <nodak53[at]yahoo.com> wrote:

- quote -

In the past, when a farm sold, the house and one acre were
considered personal residence. I would think that this
would be the case in this instance, as well.

Missy Doyle

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"John" <nodak53[at]yahoo.com> wrote:

- quote -

In the past, when a farm sold, the house and one acre were
considered personal residence. I would think that this
would be the case in this instance, as well.

Missy Doyle

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"John" <nodak53[at]yahoo.com> wrote:

- quote -

In the past, when a farm sold, the house and one acre were
considered personal residence. I would think that this
would be the case in this instance, as well.

Missy Doyle

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Taxpayer owns 80 acres of land, which his personal residence
sits on. The land includes 30 acres of timber and 50 acres
of pasture. Timber was sold in 2 prior years, resulting in a
depletion deduction. The question is, if the land and
residence are sold now, how many acres of land can be
allocated to the residence? Can all of the pasture land be
allocated to personal residence?

Thanks

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