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SW TX PANHANDLE | Spot on! If the heirs get a $2,000.000 farm and would owe $500 k in taxes, most would have to sell because they couldn’t or wouldn’t be able to swing the bill. So if they choose to sell, who gonna end up with it. It’s not going to be the young person starting out or the “underserved” that buys it like the govt thinks. It’s going to be xyz corporate farms that will add it to their 25000 acre operation. The democrats whole logic behind this is it will put a farm in a new and beginning farmers hands, which is far from reality. | |
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Elimination of stepped up basis
