Iowa farmers/investors exchanging into farm ground

[Brad Hoover]

I’m an agent in northern Iowa, we sent out mailers to owners of hog confinement building, informing them we have people looking for this type of property. The only snag for most sellers, is our attorney says you cannot 1031 from these buildings into farm ground. The buildings cost in the upwards of $750,000 now days to build new, 10 years ago they were $500,000. And they have been depreciated out, so obviously if they sell, they need a strategy to avoid huge tax burdens. Does anyone have any experience in situations like this? Or possibly direct me to some resources I can research myself? Thanks!