To amend the Internal Revenue Code of 1986 to provide special rules for the exchange or installment sale of certain agricultural property.
Farmers Tax Deferral Act - Amends the Internal Revenue Code to: (1) treat the exchange of qualified agricultural property as a like-kind exchange for purposes of allowing the nonrecognition or deferral of gain from such exchange; and (2) allow installment sales treatment of such property. Defines "qualified agricultural property" as any single purpose agricultural or horticultural property and any equipment or fixtures related to such property.
Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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