Posted 6/30/2020 08:31 (#8344868 - in reply to #8344850) Subject: RE: I guess stepped up basis is considered a loophole
I’m not happy about it because it’s just not right. Even though I’ll be busier than ever, I’m extremely grateful for the current code in place for family farms and most certainly want it to remain. Right now, most farms can pass on to the next generation pretty well intact. And that’s a great thing. The last thing most operations need now is a huge tax burden at a time when cash reserves have been significantly curtailed.