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charset="us-ascii" Content-Transfer-Encoding: quoted-printable Hi Curtis, We have about 3 years to amend the return so plenty of time, but we should = definitely try to do it sooner rather than later. Yes, it would probably be= a good idea to get it reevaluated to show a more accurate value, or we can= just use the value per acre that is used for the covenant sale since that = will be a comparable sale. I don think there is anything specific you need to ask your attorney, but y= ou could check if he agrees to either getting it reevaluated or using the p= rice per acre that is going to be used for the covenant value. Thank you, [cid:image001.png@01DC15E1.151EFED0] Alyssa Dickinson Senior Agribusiness, Food, and Beverage Direct 509-766-3032 CLA (CliftonLarsonAllen LLP) alyssa.dickinson@claconnect.com CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global= . See CLAglobal.com/disclaimer= . Investment advisory services are offered through CliftonLarsonAllen Wealt= h Advisors, LLC, an SEC-registered investment advisor. From: Curtis Andrews Sent: Sunday, August 24, 2025 9:40 AM To: Dickinson, Alyssa Cc: DAP AERO Subject: [External] amend estate return Think Security - This email originated from an external source. Be cautiou= s with any links or attachments. Thanks Alyssa That seems like an simple fix, how long do we have to amend the estate retu= rn? If the land sells for $40,000 an acre, that would indicate that our adjacen= t 30 acres appraised at $27k an acre was too low, should that be re-evaluat= ed? (When the appraisal was done, they had no industrial land sales to co= mpare to, so they just doubled the farm ground price) We are meeting with the estate attorney Thursday to discuss this, anything= specific we need to ask? On 8/12/25 8:43 am, Dickinson, Alyssa wrote: Curtis, I talked it over with John and we think the best option would be to amend C= lyde's estate return to report the value of the Covenant, since it would've= technically been considered an asset at his date of death. If we amend his= estate returns to show this value then that will give Bonnie a step up in = basis and there will be no income tax due, it will just increase her estate= . As far as the value we would report, if you know the exact value of the cov= enant that would be due we can use that or we can wait to amend until you r= eceive the actual settlement. We can discuss more when you return if you would like, let me know if you h= ave any questions. Thanks, [cid:image001.png@01DC15E1.151EFED0] Alyssa Dickinson Senior Agribusiness, Food, and Beverage Direct 509-766-3032 CLA (CliftonLarsonAllen LLP) alyssa.dickinson@claconnect.com CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global= . See CLAglobal.com/disclaimer= . Investment advisory services are offered through CliftonLarsonAllen Wealt= h Advisors, LLC, an SEC-registered investment advisor. From: Curtis Andrews Sent: Sunday, August 10, 2025 5:23 PM To: Dickinson, Alyssa Cc: DAP AERO Subject: [External] million dollar problem Think Security - This email originated from an external source. Be cautiou= s with any links or attachments. Hello Alyssia; We may be receiving an unexpected million dollars in an industrial compensa= tion payment from a covenant we attached to land Clyde and Bonnie sold year= s ago. (see attached covenant) Tax wise, how is the best way to handle this income? could it be considered part of a 1031 trade? split payment between years? split payment between craig curt and bonnie? what if we sell or 1031 trade land adjacent to the parcel this covenant app= lies to? any difference if it is a real estate transaction or regular income? Any difference if the check comes from the seller or the buyer? Any benefit to delay the payment for a few years? Just to make it more interesting, because the surveyor never filed the bou= ndary line adjustment, the County records still shows that Bonnie owns 7 ac= res of the 35. We are working with Andersen and an Attorney to get the 7 ac= res transferred to Andersen so he can sell it, and that transaction could h= appen at the same time as the payment to us. I am taking Mom to Alaska for two weeks with spotty cell service, but you c= an text me with questions and I will respond when we have service. We will be back and can meet the last week in August if you folks come up w= ith a solution that we need to discuss before making the final deal with th= e land owner. Some background on this rather odd covenant: In 2008 our farming neighbor Mike Andersen wanted to install an irrigation = circle. In order to install a full circle, he needed to include about 35 a= cres from one of our fields. This land is in an industrial zone and we wanted paid for its potential ind= ustrial value, Andersen wanted to pay farm land price as he did not see any= industrial value in it. In one of our discussions, Andersen joked if the land was ever used for so= mething other than farm ground in the next hundred years, Andrews could h= ave the industrial value. With that concept, we ended up selling it for farm value, with covenant on = the land that if the land was used by industry before 2090, then the Andrew= s heirs would be paid the industrial value of the land. Unexpectedly last month, the Port of Othello said they were interested in p= urchasing this parcel (and 150 adjoining acres) from Andersen at $38,000 an= acre to expand their industrial zone. The covenant would have the Port pay us the million dollar cash penalty whe= n they take it out of production. The seller Mike Andersen want to pay us when he sells this fall and give th= em clean title. -- Thank You Curtis Andrews 1336 E Oak St. Othello WA 99344 andrewscc@aol.com 509 346 8108 ---------------------------- The information (including any attachments) contained in this document is c= onfidential and is for the use only of the intended recipient. If you are n= ot the intended recipient, you should delete this message. Any distribution= , disclosure, or copying of this message, or the taking of any action based= on its contents is strictly prohibited. CliftonLarsonAllen LLP ---------------------------- -- Thank You Curtis Andrews 1336 E Oak St. Othello WA 99344 andrewscc@aol.com 509 346 8108 --_000_PH0PR16MB4616F76FB07E0A2F15917C2BEE3EAPH0PR16MB4616namp_ Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable

Hi Curtis,

 

We have about 3 years to amend the return so plenty= of time, but we should definitely try to do it sooner rather than later. Y= es, it would probably be a good idea to get it reevaluated to show a more accurate value, or we can just use the value pe= r acre that is used for the covenant sale since that will be a comparable s= ale.

 

I don think there is anything specific you need to = ask your attorney, but you could check if he agrees to either getting it re= evaluated or using the price per acre that is going to be used for the covenant value.

 

Thank you,

 

Alyssa Dickinson

Senior

Agribusiness, Food, and Beverage

Direct 509-766-3032

CLA (CliftonLarsonAllen LLP)

alyssa.dickinson@claconnect.com=

CLA (CliftonLarsonAllen LLP) is an in= dependent network member of CLA Global. See CLAglobal.com/disclaimer. Invest= ment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.

 

From: Curtis Andrews <andrewscc@a= ol.com>
Sent: Sunday, August 24, 2025 9:40 AM
To: Dickinson, Alyssa <Alyssa.Dickinson@claconnect.com>
Cc: DAP AERO <craig@dapaero.com>
Subject: [External] amend estate return

 

Think Security – This email originated = from an external source.  Be cautious with any links or attachments.

Thanks Aly= ssa

That seems= like an simple fix, how long do we have to amend the estate return? <= /span>

If the lan= d sells for $40,000 an acre, that would indicate that our adjacent 30 acres= appraised at $27k an acre was too low, should that be re-evaluated?  =  (When the appraisal was done, they had no industrial land sales to compare to, so they just doubled the farm ground price) = ; 

We are mee= ting with the estate attorney Thursday to discuss this,  anything spec= ific we need to ask? 

 

 

On 8/12/25 8:43 am, Dickinson, Alyssa wrote:

Curtis,

 

I talked it over with John and we think the best op= tion would be to amend Clyde’s estate return to report the value of t= he Covenant, since it would’ve technically been considered an asset at his date of death. If we amend his estate returns to show this= value then that will give Bonnie a step up in basis and there will be no i= ncome tax due, it will just increase her estate.

 

As far as the value we would report, if you know th= e exact value of the covenant that would be due we can use that or we can w= ait to amend until you receive the actual settlement.

 

We can discuss more when you return if you would li= ke, let me know if you have any questions.

 

Thanks,

 

Alyssa Dickinson

Senior

Agribusiness, Food, and Beverage

Direct 509-766-3032

CLA (CliftonLarsonAllen LLP)

alyssa.dickinson@claconnect.com=

CLA (CliftonLarsonAllen LLP) is an in= dependent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory service= s are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-regis= tered investment advisor.

 

From: Curtis Andrews <andrewscc@aol.com>
Sent: Sunday, August 10, 2025 5:23 PM
To: Dickinson, Alyssa <Alyssa.Dickinson@claconnect.com>
Cc: DAP AERO <craig@dapaero.= com>
Subject: [External] million dollar problem

 

Think Security – This email originated = from an external source.  Be cautious with any links or attachments.

 

Hello Alys= sia;

We may be = receiving an unexpected million dollars in an industrial compensation payme= nt from a covenant we attached to land Clyde and Bonnie sold years ago.&nbs= p; (see attached covenant)

Tax wise, = how is the best way to handle this income? 

could it b= e considered part of a 1031 trade? 

split paym= ent between years?

split paym= ent between craig curt and bonnie? 

what if we= sell or 1031 trade land adjacent to the parcel this covenant applies to?&n= bsp;

any differ= ence if it is a real estate transaction or regular income? 

Any differ= ence if the check comes from the seller or the buyer? 

Any benefi= t to delay the payment for a few years?

Just to ma= ke it more interesting,  because the surveyor never filed the boundary= line adjustment, the County records still shows that Bonnie owns 7 acres o= f the 35. We are working with Andersen and an Attorney to get the 7 acres transferred to Andersen so he can sell it, and that tra= nsaction could happen at the same time as the payment to us.  

 

 

I am takin= g Mom to Alaska for two weeks with spotty cell service, but you can text me= with questions and I will respond when we have service.  =

We will be= back and can meet the last week in August if you folks come up with a solu= tion that we need to discuss before making the final deal with the land own= er.  

 

 

Some backg= round on this rather odd covenant:

In 2008 ou= r farming neighbor Mike Andersen wanted to install an irrigation circle.&nb= sp; In order to install a full circle, he needed to include about 35 acres = from one of our fields. 

This land = is in an industrial zone and we wanted paid for its potential industrial va= lue, Andersen wanted to pay farm land price as he did not see any industria= l value in it. 

In one of = our discussions,  Andersen joked if the land was ever used for somethi= ng other than farm ground in the next hundred years,  Andrews could&nb= sp; have the  industrial value.     

With that = concept, we ended up selling it for farm value, with covenant on the land t= hat if the land was used by industry before 2090, then the Andrews heirs wo= uld be paid the industrial value of the land. 

Unexpected= ly last month, the Port of Othello said they were interested in purchasing = this parcel (and 150 adjoining acres) from Andersen at $38,000 an acre to e= xpand their industrial zone.    

The covena= nt would have the Port pay us the million dollar cash penalty when they tak= e it out of production. 

The seller= Mike Andersen want to pay us when he sells this fall and give them clean t= itle.   

 

 

 

 

 

 

 

 &nbs= p;

-- 
Thank You
 
Curtis Andrews
1336 E Oak St. 
Othello WA 99344
andrewscc@aol.com<=
/pre>

509 346 8108

 

----------------------------


The information (including any attachments) contained in this document is c= onfidential and is for the use only of the intended recipient. If you are n= ot the intended recipient, you should delete this message. Any distribution= , disclosure, or copying of this message, or the taking of any action based on its contents is strictly pro= hibited.

CliftonLarsonAllen LLP

 

----------------------------

 

-- 
Thank You
 
Curtis Andrews
1336 E Oak St. 
Othello WA 99344
andrewscc@aol.com<=
/pre>

509 346 8108
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