Many farm families expect estate tax to be the big succession bill, but income...

https://collinsexpertcolumn.novacrestiq.com/posts/what-is-the-simplest-way-to-explain-basis-to-a-non-accountant-farm-family

Many farm families expect estate tax to be the big succession bill, but income tax can sting more. Learn how depreciation recapture can tax past equipment write-offs, while a basis step-up may reduce tax when heirs sell inherited land.