A newly released study says repealing the step-up in basis tax provision would be detrimental to family farms and ranches. Stepped-up basis allows land and other investments to pass from one generation to the next without capital gains taxation at the time of death.

Danielle Beck with the National Cattlemen’s Beef Association says the study, conducted by EY, developed a case-study based on a theoretical family-owned cow-calf operation to show the potential impact the stepped-up basis repeal would have on farms and ranches.

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