What Happens to a Section 180 Soil Fertility Deduction When You Sell Farmland?
Section 180 soil fertility deductions can provide a significant tax benefit when purchasing agricultural land. But there is another side of the transaction that farmland investors need to understand: What happens when you eventually sell the farm? Taking a deduction today can affect the tax basis of the property and, consequently, the tax calculation when […]
Alec Bean is the CEO of Soil Tax Guys, he is a Certified Crop Advisor and has spent his entire career in Agronomic Consulting relating to soil fertility. He can be reached at [email protected] to discuss how Soil Fertility Tax Deductions fit into your land buying strategy.
