Would you like to know how to bypass capital gain taxes on the sale of your land and have the U.S. government pay you? I know it sounds too good to be true but that is exactly what we have helped many Wyoming ranchers do. Allow me to explain.
IRC Section 1031 Exchange
Section 1031 of the Internal Revenue Code allows a person with appreciated land to sell their land, to purchase (exchange into) other real estate and to defer taxes on the sale. Many agricultural families who are transitioning into retirement use the 1031 exchange to preserve their wealth and to generate passive income by exchanging into various types of commercial property.