Subject: Re: China fires across the bow
I'm not sure why you singled out farmland, as this is true about any illiquid asset.

No particular reason than it is an example of what would happen if at time of death, an asset is taxed at its appreciated value rather than having a step up basis. I am not discussing current tax policy, just what to consider if the tax policy changes to an estate tax based on appreciated value of asset. The painting you mentioned is another good example. Sell a quarter of the painting to pay the tax??

Aussi