Iowa Dept. of Rev. Doc. No. 11201011 (Mar. 22, 2011)

(taxpayer owned share of farmland and claimed capital gain deduction when land sold; land held in CRP for 10 years before sale; 701 IA Admin. Code 40.38 specifies that active management of CRP land by seeding, mowing or overseeing such activities constitutes material participation for purposes of IA capital gain deduction; taxpayer entitled to deduction). 

CALT does not provide legal advice. Any information provided on this website is not intended to be a substitute for legal services from a competent professional. CALT's work is supported by fee-based seminars and generous private gifts. Any opinions, findings, conclusions or recommendations expressed in the material contained on this website do not necessarily reflect the views of Iowa State University.

RSS​ Facebook Twitter