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

https://xeon-wiki.win/index.php/What_Does_%E2%80%9CDepreciation_Recapture_Is_Baked_Into_the_Asset%E2%80%9D_Mean%3F

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.