Inheritance & Estate

“What are the tax implications if I inherited farmland?”

CommonDeep Dive · 60 min · $170

Inherited farmland can raise several tax considerations, and the outcome often depends on how the land was owned, its fair market value at the date of death, and whether it is later rented, farmed, or sold. In many cases, inherited property receives a new tax basis, which can affect future gain or loss if the land is transferred or sold. Ongoing income from crops, leases, or conservation payments may also have different reporting treatment than the land itself. State inheritance rules, any estate tax exposure, and records for improvements or depreciation can also matter. Working through the specifics with a CPA is the cleanest way to land on the right move.

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.