Farm families often expect estate tax to be the big succession bill, but income...

https://www.foxtrot-bookmarks.win/at-succession-many-farm-families-worry-about-estate-tax-but-income-tax-can

Farm families often expect estate tax to be the big succession bill, but income tax can surprise heirs more. Paid-off equipment may trigger depreciation recapture, while a basis step-up resets inherited assets’ tax value