Off to Brazil and a Refresher on Deferring Income Taxes on Sale of Farmland
When you get this post I should be in Brazil doing a farm tour, etc. (assuming the United Airlines cooperates).
I flew out to Brazil on Saturday and will be doing various tours of ports, farms, ethanol plants, etc. through the following Sunday. When I land in Chicago I will then catch a flight to Nashville for Top Producer, fly to Minnesota on Wednesday to speak on Thursday and home Thursday night.
I should be able to do some posts while I am in Brazil and this is my last continent to get off my list (other than Antarctica).
We have gotten some questions on the ability to defer the payment of tax related to the sale of farmland both by farmers and non-farm landlords. Here is a detailed summary of the new Section 1062 and how it works:
