One question nobody asked is "what's your cost basis"? That's a fairly important question when you're talking about capital gains.
If you and your sister inherited the family farm, it got a new cost basis when you inherited it, which would be its appraised value at time of inheritance. Which could mean there's not enough capital gains to worry about. But farms are frequently gifted from generation to generation for various reasons (typically so owners qualify for Medicaid) which means the cost basis could go back several generations, resulting in significant capital gains.
It is unknown what the future capital gains tax rate will be. But we do know what it is today, and it is historically quite low. If you're going to sell, there's never been a better time. Farmland prices are high and the capital gains tax rate is low.
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Today's Featured Article - Talk of the Town: What's The "Stuckest" You've Ever Been? - by Edited by Kim Pratt. Another great discussion from the Tractor Talk Discussion Forum. The discussion started out with the following post: "I was about 14 (part of the problem) when I got stuck. I was disking with a cab equipped IH 966. The window was dirty and I was driving into the evening sun. It was hard to see and it was my first pass down the field. I got the tractor so stuck that the underside of the tractor was resting on the ground. My uncle wanted
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