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Michael Gustafson of Farmers First Trust and Darren Carlson of Carlson & Burnett introduce themselves to get the show started!
Explanation of MDPT and Monetized Installment Sale
Mike and Darren provide an explanation of MDPT and Section 453 of the US Tax code and how it can benefit farmers and ranchers.
Tax opinion letters
Why a tax opinion letter is important in a monetized installment sale. History of installment sales and how it is used in MDPT.
Farm assets that qualify for the MDPT transaction.
What assets can be used in an MDPT transaction? Discussion on farmland and farm products that are included in the MDPT process.
When should a farmer use MDPT and who ultimately pays the taxes?
Discussion regarding the ultimate payment of the required taxes and when MDPT should be utilized by a farmer.
Difference : MDPT and 1031-Exchanges
The difference between a 1031-Exchange and MDPT. Discussing how easy or complex MDPT is to use for a farm or ranch.
Live call in questions.
Live call in questions from the July 11, 2019 Rural America Live
Rural America Live - Closing Comments
Closing comments by Mike Gustafson and Darren Carlson on the July 11, 2019 Rural America Live show.