At farm succession, income tax can sting more than estate tax. A paid-off...

https://cashsexcellentblogs.rivetgarden.com/posts/what-does-irc-section-1015-mean-when-i-gift-farmland-to-my-daughter

At farm succession, income tax can sting more than estate tax. A paid-off combine may trigger depreciation recapture when heirs sell it, while a basis step-up can reset the tax value of land they inherit