Misleading Rulings Holding No Recapture on Possible Cash Rent Lease After Special Use Valuation Election

dc.contributor.author Harl, Neil
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T05:32:40.000
dc.date.accessioned 2020-06-29T22:56:35Z
dc.date.available 2020-06-29T22:56:35Z
dc.date.embargo 2017-11-29
dc.date.issued 2011-08-05
dc.description.abstract <p>For those who elect special use valuation for farmland at death for federal estate tax purposes,<strong>1 </strong>one of the major concerns is the possibility of recapture in the after-death period.<strong>2</strong> Four almost identical letter rulings, issued in 2011, have provided further guidance on the relevant authority governing post-death recapture.<strong>3 </strong>Unfortunately, the rulings cite approvingly to two Court of Appeals decisions,<strong>4 </strong>both of which have been roundly criticized as improperly approving post-death cash rent leasing at the time of those cases.<strong>5 </strong>To complicate matters further, an amendment in 1997, retroactive to December 31, 1976, expanded the opportunity to receive cash rentals on special use valued land after death.<strong>6 </strong>That aspect is not mentioned in the 2011 rulings.<strong>7</strong></p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol22/iss15/1/
dc.identifier.articleid 2090
dc.identifier.contextkey 11173238
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol22/iss15/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3570
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol22/iss15/1/AgLawDigest_v22n15_01.pdf|||Fri Jan 14 17:50:49 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Misleading Rulings Holding No Recapture on Possible Cash Rent Lease After Special Use Valuation Election
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 6f7faf26-64de-4a40-b0d5-a56e7f9ba885
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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