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Elimination of stepped up basis
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Boone & Crockett
Posted 8/21/2024 07:14 (#10859954 - in reply to #10859908)
Subject: RE: Elimination of stepped up basis


DaveMk - 8/21/2024 06:39

IN555 - 8/20/2024 12:49

IMO you couldn’t be more wrong. Crop insurance and generational wealth are the two biggest contributors to consolidation in farming. Both are what makes it nearly impossible for a first generation farmer.



Let me guess you think that you would be able to buy more ground if families are forced to sell land to pay the taxes? There has been some dumb **** posted on this website over the years but this takes the cake.
This proposal will not by itself force any land sales to pay taxes due. Now if they implement a reckless unrealized gains tax, all bets are off at that point.
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