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Ask the Taxman by Andy Biebl
Andy Biebl DTN Tax Columnist
Mon Apr 20, 2015 12:34 PM CDT

QUESTION:

I am a young farmer and I read your March Progressive Farmer-DTN article "Whither Capital Gains Rates." You discussed briefly that land contracts help with capital gains. I purchased a farm on contract and some financing with Farm Service Agency guarantees. I would like to buy more land, but lenders are not very willing to finance young farmers without things like guarantees. I would really like to buy more land on contract, but most sellers just want cash deals because they say it makes it too complicated and are afraid it will cause tax issues. I do not know ...

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