Economic Brief No. (EB-31) 23 pp

September 2021

The Effect on Family Farms of Changing Capital Gains Taxation at Death

ERS researchers present a framework for evaluating the effects of changes in capital gains taxation on inherited assets. This report provides an analysis of potential impacts on family farm estates’ capital gains tax liability under the proposed American Families Plan (AFP).

Keywords: Capital gains tax, family farms, estates, stepped-up basis, carry-over basis

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