What is the Qualified farmland property installment election?
The qualified farmland property installment election lets an eligible seller of qualified farmland pay the federal income tax on the sale gain in four equal annual installments when the land is sold to a qualified farmer. OBBBA Section 70437 creates new IRC Section 1062 for sales in tax years beginning after December 31, 2025. Sellers should coordinate the election with basis records, depreciation history, buyer qualification, and Tax loss harvesting before closing.
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