NEWS
Taxlink by Andy Biebl
Andy Biebl DTN Tax Columnist
Wed Mar 4, 2015 06:36 AM CST

The president's State of the Union message advocated a new top 28% capital gain rate and partial elimination of the step-up in basis that occurs at death. That would make sales of farmland a tax disaster. However, with the Republicans controlling the House and the Senate, those proposals have little chance of enactment. Today's capital gain rates are already both high and complex. Here's what you need to know if a land sale might be on the horizon.

THE TIERED RATES

There was a day when capital gains had a simple flat rate; today it's a four-rate system. Ordinary income ...

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