Farm heirs may fear estate tax, but income tax can hit harder at handoff....

https://future-wiki.win/index.php/Gifting_the_farm_to_my_kids_now_%E2%80%94_will_they_inherit_my_low_basis%3F

Farm heirs may fear estate tax, but income tax can hit harder at handoff. Paid-off gear can mean depreciation recapture if sold. A basis step-up may cut heirs’ tax on a later sale