Source: AGWEB, 9/20/17




As 2017 nears its end, tax reform chatter is ramping up. Keep your eye on discussions around eliminating or curtailing Section 1031 tax-deferred exchanges and the estate tax, advises Paul Neiffer, a CPA and principal at CliftonLarsonAllen and author of the blog, “The Farm CPA.” Section 1031 currently allows landowners and farmers to sell less productive farmland, roll that gain into new farm land and defer the tax. If the owner passes away owning the property, the deferred gain will disappear.

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