Farm Horizons
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Oct. 10, 2016
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Page 14
Should I sell my land or
keep it for rental property?
I get the question fairly often about
$300 an acre.
what land rents should be, and I hear ofIf the kid decides to sell it for $5,000
Myron Oftedahl
ten enough concern that a particular farm
an acre, then he/she is going to pay capiFarm Business
Management Instructor,
will be transferred to the kids after mom
tal gain taxes on $4,700 per acre. Capital
South Central College
and dad die. The concern is what the kids
gains tax rates can be up to 40 percent. If
will decide to do with the property; will
we assume the 40 perce