A paid-off tractor can still create a tax bill when the next generation takes...

https://camilassmartthoughtss.opalvector.com/posts/if-we-gift-land-now-can-the-kids-still-get-a-step-up-later

A paid-off tractor can still create a tax bill when the next generation takes over. Many farm families worry about estate tax, but income tax surprises can hit sooner when equipment is sold or transferred