Thumb of Michigan | Wreckless - 11/28/2022 09:05
The stepped up basis is what gets rid of the tax, not the 1031
I don’t necessarily disagree with you. I’m curious what percent of 1031s involve farm property and how much is commercial property.
I don’t see it going away anytime soon. Rich people make the rules.
https://www.ers.usda.gov/amber-waves/2011/september/tax-deferred-exc...
Somewhat dated article. Likely still relevant though.
I was surprised somewhat by the percentage of total sales utilizing 1031 in the period consisted of farmland. Double what I thought. I figured 1% would catch it, turns out it was 2%.
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Land inflation and 1031 exchanges
