Minimize Farmland's Exit Taxes
Marcia Zarley Taylor DTN Executive Editor
Mon Feb 1, 2016 10:54 AM CST

HADDONFIELD, N.J. (DTN) -- "I have been searching all over the Internet to figure out how to get out of the C corporation (land only) formed by our deceased parents in 1975 without a huge tax bite and still provide some income for the current farming generation nearing their 70s and the non-farm siblings," writes a DTN reader from Kentucky. She's hardly alone.

One of the hangovers of 1970s farm tax advice is that many farm families now own farmland trapped in a C corporation. Unfortunately, thanks to tax rule changes and runaway land markets, that exposes owners to double ...

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