Selected Tax Matters Involving Transactions of Farm Properties
Real estate transactions involving farm land can give rise to unique tax considerations and planning opportunities. In this paper, the author provides an in-depth discussion of some of these considerations and opportunities within the context of: (a) using the capital gains exemption in farm land transactions; (b) using intergenerational rollover provisions in farm land transactions (c) issues and opportunities relating to principal residencies on the home quarter; and (d) change in use from farm land to development land inventory.
This paper is part of a collection presented at LESA’s 49th Annual Refresher: Real Estate from April 24 – 26, 2016.
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