Farm heirs may fear estate tax, but income tax can sting more. A paid-off...

https://cashsinterestingblog.zenbloomer.com/posts/irc-1245-vs.-1250-what-matters-for-my-farm

Farm heirs may fear estate tax, but income tax can sting more. A paid-off tractor may trigger depreciation recapture when sold. A basis step-up can cut tax on land gains, but not erase every bill. See what to plan for before the handoff.