A group of lawmakers want to eliminate stepped-up basis. The American Soybean Association and American Farm Bureau released an analysis to explain what the elimination of this benefit would mean to agriculture. ASA President and South Dakota farmer Kevin Scott says if stepped-up basis is eliminated, farmland heirs would have big tax bills. “If they eliminated the stepped-up basis, it would impact our ability to pass on the farm to the next generation.” Read the full analysis.
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