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Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Jul 14, 2014 10:17 AM CDT

DTN Tax Columnist Andy Biebl is a CPA and principal with the accounting firm of CliftonLarsonAllen LLP in New Ulm and Minneapolis, Minn., and a national authority on agricultural taxation. To pose questions for upcoming columns, email AskAndy@dtn.com.

QUESTION

My wife and I operate a 600-acre grain farm and are ready to retire. We have no family members interested in farming, but there is a young neighbor couple that would like to buy or lease our farm. Our land is worth about $4,500 per acre. The young couple also would purchase our equipment, which is worth about $750,000, using some ...

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