Farm Bureau Warns Of Jump In Farm Taxes If Stepped-Up Basis Goes Away
April 9, 2021 5:07AM CDT
A recent study by Farm Bureau and the American Soybean Association warns that a proposal to eliminate the stepped-up basis in agriculture would have a costly impact. John Newton, Farm Bureau chief economist, explains what eliminating the stepped-up basis would mean for farmers…
Farm Bureau and ASA recently ran the numbers on what the potential gains taxes would be per acre of cropland…
Newton says the tax would be a financial burden for farms for up to a decade.
