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| Unfortunately for them, by all outward appearances, the sellers missed a glorious opportunity to save a real bundle on capital gains and depreciation recapture by the way they structured their land and equipment sales. It’s too late now, for all practical purposes.What they most likely did accomplish tax wise is lock in the current low cap gains rate, provided new rules,if implemented, are not made retroactive. With proper planning, they wouldn’t have owed a dime in taxes.
Edited by Boone & Crockett 2/23/2021 15:53
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Hatcher Farms in Kansas
