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SW MN | We had a guy in our area from WI that was selling apartment complexes and buying farmland on 1031's. In theory, it would be a great way to get into land on a 1031 for a family legacy and pass along at death. Buy a $1 million dollar apartment complex, depreciate it, collect rent, and then sell it and exchange it into farmland to rent to your LLC operating entity. The theory process is you should get $1 mln of fully depreciated funds that didn't pay any tax on (depreciated building) to roll into farmland that normally needs to be taxed to pay for the land. | |
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1031 Exchange of Livestock
