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Farm Progress America, May 6, 2021

Audio-Farm Progress America, May 6, 2021

Max Armstrong shares the impact of losing stepped up basis and the capital gains costs farms could face

Max Armstrong reports on stepped up basis, which farmers have long used for intergenerational transfers from the farm like farmland or timberland. But if that stepped up basis goes away, the capital gains cost would be farm beyond the amount of rental income the land could generate. Max looks at the steep costs that heirs could be facing if those changes are made to the tax laws.

Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Max Armstrong, veteran farm broadcaster and host of This Week in Agribusiness.

Photo: CarbonBrain/iStock/Getty Images

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