How to Defer Capital Gains Tax on a Land Sale
This is Huntin’ Land, the podcast for landowners and land hunters. If you like to stay up to date on hunting tactics, land management, land values, and land market dynamics, this is the podcast for you. In this episode, Jonathan Barge and Max Hansen of Accruit discuss the 1031 exchange and how it can be used to defer capital gains tax on a land sale. They discuss the advantages of this tax-deferred exchange, the timeline for each step of the process, the rules specific to land and its different types, a reverse 1031 exchange if they ever advise people not to do a 1031, the role of a 1031 exchange intermediary and how much it would cost. Tune in to get all the details on how to successfully start, complete and navigate a 1031 exchange on a land sale. Enjoy the show!
As a landowner, it is important to know what your land is worth. You may find yourself asking the questions like, “how much is my land worth today,” “how much is my land worth per acre,” “how much is timberland worth,” “what is my farmland worth,” “how much is agricultural land worth,” and other such questions. Many factors go in to determining the value of land and seeking out the wisdom of experts is a great place to find the answers to your questions.
Each week, on the Huntin’ Land Podcast, we will bring in various experts to help provide answers to the important questions landowners have.
How to Defer Capital Gains Tax on a Land Sale
What is a 1031 exchange?
- What advantage does the 1031 tax-deferred exchange offer?
Can you break down the 1031 Exchange timeline?
- how long do you have for each step in the process?
- do you have to wait for any period of time to sell?
1031 Exchange Rules for Land
- Are there any rules specific to land and its different types?
- Can you 1031 Exchange from raw land into something besides raw land and vice versa?
- What does the IRS mean when it says, “Like Kind”?
- Can a partnership or an LLC, etc do a 1031 exchange?
How to Do a 1031 Exchange on Land
- What is a Reverse 1031 Exchange?
- Do you ever advise people not to do a 1031?
- What is the role of a 1031 Exchange intermediary?
- How much does a 1031 Exchange cost?
This week’s show has been brought to you by Joe Baya and Clint Flowers, members of the top producing team at National Land Realty, the fastest growing and most innovative land brokerage in the nation. With hunting season right around the corner and interest rates at historic lows, now is a great time to be buying or selling land. If you want to learn more, shoot us an email at pros@landhuntin.com or call us at 855-NLR-LAND.
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Tune in each week as we bring in various experts to help provide answers to important land owner questions like, “how much is my land worth today,” “how much is my land worth per acre,” “how much is timberland worth,” “what is my farmland market worth,” “how much is agricultural land worth,” and other such questions. Many factors go in to determining the value of land and seeking out the wisdom of experts is a great place to find the answers to your questions.
