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How to Blow a 1031 Exchange

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August 15th, 2013

Recently, I had a taxpayer call me about the sale of some farm land.  The taxpayer had sold 80 acres for $960,000 that they had inherited from his mother about 20 years ago.  The tax basis in the property was about $150,000 so they were facing an $800,000 long-term capital gain which would cost them […]

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1031 Tax-Deferred Exchange Does Not Always Defer All Taxes!

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February 18th, 2013

With farmland prices at or near an all-time high, many farmers are considering selling their farmland and rolling over the gain into other real estate on a tax-deferred basis using a Section 1031 tax-deferred exchange.  Under these rules, the farmer has 45 days from the date of closing (not when you sign the offer) to […]

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    Great time with @MRRChip today on Market Rally talking about the new farm bill. 5 hours ago

    Drove over 2,000 miles in last 12 days. Saw a lot of good looking corn. Beans not so much 2 days ago

    When you drive through Minnesota, South Dakota and Iowa this time of year you see a lot of corn and beans and not much else 2 weeks ago

    Possible another reason for high US corn yield estimates is acres switched to beans were lower yield corn acres 2 weeks ago

    Don't understand why nobody claims the USDA manipulates the data when the report is bullish 2 weeks ago

    USDA pegged lower corn production but if yields trends continue this will quickly change to production increase. 2 weeks ago

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    If prices stay where they are at I estimate some farmers will $100 ARC payments next October. Could be difference between profit & loss 2 weeks ago

    I think the corn and bean markets are starting to feel like Brazil in the World Cup on Tuesday 2 weeks ago

    Do the Highs in Live Cattle equal the Lows in Corn and Beans 2 weeks ago