HAVE you thought about selling, but the thought of capital-gains taxes scared you? Are you looking for more income to fund retirement, travel or pay health-care related expenses? If so, you may want to consider putting your farmland to work by utilizing a 1031 exchange. You do not have to become involved with the day-to-day duties of property management if you choose to exchange your property. It's important for farmers to identify and consider the potential drawbacks, as well as the nuts and bolts,of how a 1031 Tenant In Common fractional exchange works.
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