In The One Big Beautiful Bill, Congress added Section 1062. This section allows a person who sells farmland to a farmer to defer the tax on the gain over 4 years. The election must be made one the due date of the return. There are some restrictions on income levels. Additionally, you must put a covenant in the deed restricting the use to only farming for 10 years. You also must have been using the property for farming (or leasing it to a farmer) for ten years. But if you own a farm and want to sell it, this is a great opportunity to do so.