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Re: If you own land in Iowa now is the time to sell!! [Re: NEYotetrapper] #7770775
01/13/23 12:50 PM 01/13/23 12:50 PM
Joined: Mar 2014
SE Iowa USA
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AKAjust Offline
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AKAjust  Offline
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Joined: Mar 2014
SE Iowa USA
Had a guy tell me that 80 acres I was trapping next to (road ditch) was owned by a Dr working for the Green Bay Packers. Pheasant hunter I guess
He has since sold the place.
Wooded grassy weedy waterway is now plowed field.
I did notice a farm a couple of miles away had 2 pickups parked in an old drive that had Wisconsin plates. Not much of a farm. Creek running through it with grassy waterways.
Dunno if its the DR or not but we don't see many Wisconsin plates here in SE Iowa parked in field drives.
just
Re: If you own land in Iowa now is the time to sell!! [Re: bhugo] #7770896
01/13/23 02:21 PM 01/13/23 02:21 PM
Joined: Sep 2011
sometimes PA ME or FL
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ebsurveyor Offline
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ebsurveyor  Offline
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Joined: Sep 2011
sometimes PA ME or FL
Originally Posted by bhugo
Originally Posted by bblwi
They can hold that as an investment that they plan to hold for long periods of time and get a small return on their investment. Or they could buy at 5 million and sell say for 2 million and harvest a huge, huge loss and in their tax brackets that could offset a lot of income. If they borrowed say 2.5 million of that and put 2.5 million down and sold in say a year their actually out of pocket losses would not be that great when the loss is calculated into their total tax situation.

Bryce

I can see selling for a lower price than you paid to get the cash out of an investment if you need the liquidity, and then using the loss to offset taxes, but not purposefully losing a bunch of money to do that. That seems counterproductive. What am I missing here.


Let's see, the highest federal tax bracket is 37%. So, it must be the new math that loosing 50% to save 37% is a smart move.

Last edited by ebsurveyor; 01/13/23 02:24 PM.
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