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What happens if the farmland and equipment comprises less than 50 percent of the total value of the estate?

April 26, 2017comprises equipment Estate farmland happens total value

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What happens if the farmland and equipment comprises less than 50 percent of the total value of the estate?

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The value of the farm and equipment becomes taxable, but the estate still benefits from the general deduction of $1.5 million for deaths in 2005 and $2 million for deaths in 2006 and beyond.