Farmers State Bank 1031 Tax

Defer Capital Gains Taxes on Land Sales

Is the prospect of having to pay a capital gains tax stopping you from upgrading (more acres, better soil, same number of acres in a different state at lower cost per acre) your land base?

Don’t Worry! You can sell your appreciated property to trade up and not pay the capital gains tax today by deferring the taxes to the future with a 1031 Tax Deferred Exchange.

Here’s How:

The property you buy needs to be investment property;

  • Farmland

  • Commercial building

  • Apartment building

  • Other real property (as long as it’s not a primary residence)

Generally, property held in an exchange needs to be held for more than one year.

It’s easy and affordable to set up a 1031 Exchange

The heavy lifting is done for you. A skilled and qualified intermediary will:

  • Coordinate the paperwork • Attend the closing
  • Invest the funds • Prepare the checks
  • The cost is approximately 40% lower than out of the area exchange companies.

Start making more money now and contact us to establish your 1031 exchange.

Please consult your tax advisor for details.

217-285-6228 or email to trustdept@farmersstate.com