Taxpayers considering selling their farm or ranch with a primary residence can utilize both Section 121 and Section 1031 to exclude and defer capital...
Tag - 1031 Exchange
When selling land, whether farmland, timberland or raw land, federal and state taxes are triggered and due in the year following the sale.
Given today’s real estate market where the lure to fix and flip is a part of mainstream reality TV, a question often in the mix is whether a 1031...
The kids have grown, the company no longer uses the property as a retreat, the taxpayers want to downsize or the price offered represent a number of...
With the recent increases in farmland values and drop in real estate prices, some smart landowners might consider selling their farm and purchasing a...
1031 exchange rules have been refined since being created by the Department of Treasury ninety years ago. The Internal Revenue Service (IRS) enforces...
A 30 year or more leasehold of land is considered like-kind to a fee interest in land. Providing that the taxpayer has the right to extend the lease...
After reading Jeanne Marie Laskas great article “Breeding the Perfect Bull” published in the Smithsonian Magazine, I wondered whether a 1031 tax...
Farms and ranches are made up of real and personal property. Depending upon the intent of the owner, land can be sold in a 1031 exchange replacing...
When selling property, there are 4 ways to receive the proceeds. The 4 ways include cashing out, a 1031 exchange, owner financing and an installment...