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Farm Succession » General Resources » Financial

Resource Review

Farm Transfers in Wisconsin a Guide for Farmers Chapter 7: Legal and Tax Consequences

Author(s): 23 authors from DATCP, UW-Extension and private sector, including farmers
Review Date: 18 August 2005
Application: Agent and Clientele Material
Format Publication, 10 pages

Review

Chapter 7 explains the income tax consequences of selling the farm assets and uses an example to compare the income tax liability that results from a sale of assets in one year, selling assets over more than one year and an installment sale. It briefly discusses the tax effects of death, including income tax basis adjustment and gift and estate taxes.

How to Access

Order the complete publication (90 pages) from the Wisconsin Department of Agriculture, Trade and Consumer Protection (800-942-2474) or download from: Farm Transfers in Wisconsin a Guide for Farmers

Reviewer

Phil Harris


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