At succession, farm families may worry about estate tax, but income tax can...

https://dibz.me/blog/gifting-the-farm-to-my-kids-now-will-they-inherit-my-low-basis-1282

At succession, farm families may worry about estate tax, but income tax can bring the bigger surprise. See how depreciation recapture on paid-off equipment works and how a basis step-up can change the tax bill for heirs.