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

https://ace-wiki.win/index.php/Do_Improvements_on_the_Farm_Create_Taxes_Later_When_Sold%3F

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