Inheritance & Estate

“How do taxes work when I inherit farmland?”

CommonDeep Dive · 60 min · $170

Inherited farmland often raises a mix of income tax, estate tax, and recordkeeping questions, and the answer usually depends on how the land was titled, whether it passed through an estate or trust, and what happens after the transfer. In many cases, the property's tax basis, any later sale, and whether the land is actively farmed or rented can affect the outcome. Local property tax treatment and any related depreciation or expense records may also matter. The surrounding estate documents and valuation at the time of inheritance often shape the tax picture. A targeted review with a CPA can turn the uncertainty into a clear next step.

In your 60-minute session, the KGOB advisor handling it will:

Read your exact situation and tell you, in plain English, what’s actually going on.
Lay out your options and the trade-offs — no jargon, no judgment.
Give you a clear next step you can act on, whether that’s with us or on your own.