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

https://sierra-wiki.win/index.php/Why_Do_Equipment_and_Buildings_Have_Different_Recapture_Rules%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.