Yesterday's Tractor Co. New Parts for Old Tractors
Click Here or call 800-853-2651 
   Allis Chalmers Case Farmall IH Ford 8N,9N,2N Ford
   Ferguson John Deere Massey Ferguson Minn. Moline Oliver
 
Marketplace
Classified Ads
Photo Ads

Community
Discussion Forums
Project Journals
Tractor Town
Your Stories
Show & Pull Guide
Events Calendar
Hauling Schedule

Galleries
Tractor Photos
Implement Photos
Vintage Photos
Help Identify
Parts & Pieces
Stuck & Troubled
Vintage Ads
Community Album
Photo Ad Archives

Research & Info
Articles
Tractor Registry
Tip of the Day
Safety Cartoons
Tractor Values
Serial Numbers
Tune-Up Guide
Paint Codes
List Prices
Production Nbrs
Tune-Up Specs
Torque Values
3-Point Specs
Glossary

Miscellaneous
Tractor Games
Just For Kids
Virtual Show
Museum Guide
Memorial Page
Feedback Form

Yesterday's Tractors Facebook Page

Related Sites
Tractor Shed
TractorLinks.com
Ford 8N/9N Club
Today's Tractors
Garden Tractors
Classic Trucks
Kountry Life
Enter your email address to receive our newsletter!

subscribe
unsubscribe
  
Tractor Talk Discussion Forum

Re: Land sale taxes

[Show Entire Topic]  

Welcome Guest, Log in or Register
Author  [Modern View]
Goose

11-27-2012 16:34:50
174.253.146.22



Report to Moderator

I think you're referring to capital gains tax. It's at 15% now, but subject to change next year.

My sister and I sold our family farm last month. Our accountant was pleased that we had not only sold it this year, but we got the full price in cash. She was worried about what capital gains will do next year.

Kinda hated to sell it since it had been in the family for 109 years, but time marches on. Our daughter is settled in the Washington DC area, and my sister's four kids are scattered between here and California, so there was no next generation waiting in the wings to take over. Then, my sister and I both owned an undivided half interest, and our attorney had been bugging us to divide it for our own estate planning. But, the farm was configured so it would be impossible to divide it between two people and be fair about it.

So, we decided land prices are high, it's a seller's market, we could control the shots, split the money and invest elsewhere. Plus we prevented the possibility of taking a beating in a forced sale someday to pay medical bills or something else unforeseen at this time.

Actually, we sold it to a longtime friend and neighbor who already owns land on two sides. My wife and I retained a ten acre plot on one end that includes our house and my shop. And I put a clause in the sales contract that I retain deer hunting rights for myself and up to six guests for ten years.

[Log in to Reply]   [No Email]
[Show Entire Topic]     [Options]  [Printer Friendly]  [Posting Help]  [Return to Forum]   [Log in to Reply]

Hop to:

TRACTOR   PARTS TRACTOR   MANUALS
Same-Day Shipping! Most of our stocked parts ship the same day you order (M-F).  Expedited shipping available, just call!  Most prices for parts and manuals are below our competitors.  Compare our super low shipping rates!  We have the parts you need to repair your tractor.  We are a Company you can trust and have generous return policies!   Shop Online Today or call our friendly sales staff toll free (800) 853-2651. [ More Info ]

Home  |  Forums


Copyright © 1997-2014 Yesterday's Tractor Co.

All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy

TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.

Yesterday's Tractors - Antique Tractor Headquarters