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Resource Review

AgVentures Business Arrangements and Farm Transfers Chapter 3: Tax Considerations of Farm Transfers

Author(s): UW-Extension specialists and county agents
Review Date: Updated each January
Application: Agent Material and Clientele Material
Format Teaching curriculum, 8 pages

Review

This chapter explains the income, self-employment, gift and estate tax consequences of various methods of transferring farm assets, including sale, gift and transfer at death. It includes a discussion of installment sales, trading farm assets for other investments and transferring to business entities. The tax rules are illustrated with examples. A tax implications exercise is included.

How to Access

Hard copies can be purchased from Center for Dairy Profitability; an electronic version is available on a CD or can be downloaded: Tax Considerations of Farm Transfers as a PDF. A powerpoint file for this material is also available.

Reviewer

Phil Harris