Vineyard 1031 Exchanges
“Wine is sunlight, held together by water.” —Galileo
“I cook with wine and sometimes I even add it to the food.” —W.C. Fields
People have enjoyed vineyards and wine for thousands of years. With demand increasing, prospective vintners are buying up vacant land and planting grapes. When sold, many of these vineyards are suitable properties for a tax deferred 1031 exchange. The sale of a vineyard or winery may include several different types of property that qualify for tax deferral in a 1031 exchange, including:
1. The land associated with the vineyard itself;
2. The facilities and outbuildings that are a part of the wine making operations, including the caretaker’s
house, wine tasting facility or other property used in the wine operations;3. Water rights (if treated as a real property interest under local law); and
4. Equipment and other personal property used in the production of wine.
For the full article on 1031 Exchanges of Vineyards, read more…
1031 Basics: The Delayed Exchange
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This one-page checklist addresses what important things should be done before closing on the sale of a relinquished property, the 45 day identification deadline, and the 180 day exchange period deadline, in a logical and easy to understand step-by-step format. For the complete Delayed Exchange Checklist, download now… |
IRS and Treasury Department Publish Temporary Regulations
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