Many farm families worry about estate tax at succession, but income tax can...

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

Many farm families worry about estate tax at succession, but income tax can bring the bigger surprise. Learn how depreciation recapture on equipment and a step-up in basis for inherited assets can change the bill, and what to review before the handoff.