Iowa Bound...Wish us luck!

[KaiB]

Thanks all; I'll know if we can pull this off by the end of the week.

This is a straight farm to farm 1031. We have lived in town and until the spring, were preparing to build a home out there. Soo...this is a easy land for land deal within the shelter of the 1031.

I can't yet say where, as we will be offering on more property which is adjacent to the parcel (80 acres) we want.

The fun thing is the fact that the 80 lies on the creekline which once bordered Audri's folks old place.

 

[randy41]

just a thought on your 1031....many people think the 15% rate is going away in 2010...if you 1031 it you may end up with a bad cap gain rate down the line. this is speculative though. who knows?

 

[KaiB]

Yep; we consider it to be a fact that taxes across the board will raise. I'll even bet dollars to doughnuts that the current cuts go away before they expire.

The new land and farm will ultimately be our home for life and the estate will be arranged far before we leave this veil of tears.