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As farmers approach retirement their two biggest concerns are generally equipment sales and carryover grain. Selling farmland on contract works well in this scenario, but equipment sales are generally not treated in the same fashion given that the equipment is usually fully depreciated at the time of the sale.
Second, on the mark-to-market on trust owned assets, it also applies to a partnership or any other non-corporate entity that has owned property for at least 90 years. This could affect many farmland partnerships. Will the partnership be allowed to transfer the land into an S corporation to eliminate this mark-to-market.
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