UP / Thumb of Michigan | Pofarmer - 5/21/2026 15:01
You wouldn't have someone selling a corner of buildings in saint louis and buying a section of land out in the country somewhere.
Thats maybe true. You also wouldn't have anyone selling a section of land to buy corner of buildings in St Louis, either.
Seems like many on this site have bemoaned the fact that farm land is unavailable. I know a lot of retired farmers won't get off land because of the capital gains hit they'll likely face. And I also know quite a few who've used a 1031 to accomplish exactly what some fear- they sell a farm and kick the cap gains down the road. Or eliminate them.
Theres a LOT of places to trade a farm into income property available. And a lot of those are basically mailbox money.
I contend that any limits on 1031 exchanges are going too have negative unintended consequences. Section 1031 has worked just fine for over 90 years, not sure how much tweaking it needs. |
1031 rules need to change