Inheritance & Estate

“What taxes do I owe on farmland I inherited?”

CommonDeep Dive · 60 min · $170

Inherited farmland can raise several tax questions, and the answer often depends on how the property was transferred, whether it was held in a trust or estate, and what happens after the transfer. In many cases, the starting point is the property’s tax basis at the time of inheritance, along with any later income from farming, rent, or a sale. State inheritance or estate rules can also matter, as can property taxes and recordkeeping for improvements, depreciation, or land use changes. The details of the decedent’s estate, the heir’s ownership structure, and the intended use of the land often shape the outcome. A focused session can map this against your actual situation in plain English.

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.