[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-302759-105":3,"detail-sidebar-cat-1-en-105":80,"doc-detail-302759-en":126},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":73,"head_meta":75,"extra_data":77,"updated_unix":79},105,"en","the-tax-implications-of-the-american-families-plan-on-iowa-farmland-owners","The Tax Implications of the American Families Plan on Iowa Farmland Owners","","August 2021 publication analyzing how the American Families Plan (AFP) could affect Iowa farmland owners’ tax outcomes. It reviews current law for capital gain, Medicare tax, ordinary income, and property transfers at death or via lifetime gifts, then evaluates AFP proposed changes including higher individual tax rates, broadened Medicare taxation, and treating death and gift as realization events. The report applies data and methodology from the 2017 Iowa Farmland Ownership and Tenure Survey to estimate impacts on lifetime sales and transfers, including farmers, retired owners, and the exclusion’s effects.",{"@graph":14,"@context":72},[15,34,55],{"@type":16,"itemListElement":17},"BreadcrumbList",[18,23,27,31],{"item":19,"name":20,"@type":21,"position":22},"https://docshare.wps.com","Home","ListItem",1,{"item":24,"name":25,"@type":21,"position":26},"https://docshare.wps.com/template/","Template",2,{"item":28,"name":29,"@type":21,"position":30},"https://docshare.wps.com/template/general/","General",3,{"item":32,"name":10,"@type":21,"position":33},"https://docshare.wps.com/template/the-tax-implications-of-the-american-families-plan-on-iowa-farmland-owners/302759/",4,{"url":32,"name":10,"@type":35,"image":36,"author":41,"headline":10,"publisher":44,"fileFormat":47,"inLanguage":8,"description":12,"dateModified":48,"datePublished":49,"encodingFormat":47,"isAccessibleForFree":50,"interactionStatistic":51},"DigitalDocument",{"url":37,"@type":38,"width":39,"height":40},"https://docshare.wps.com/thumbnails/the-tax-implications-of-the-american-families-plan-on-iowa-farmland-owners/302759.png","ImageObject",442,249,{"name":42,"@type":43},"Mary Man","Person",{"url":19,"name":45,"@type":46},"DocShare","Organization","application/pdf","2026-09-23","2026-09-19",true,{"@type":52,"interactionType":53,"userInteractionCount":26},"InteractionCounter",{"@type":54},"ViewAction",{"@type":56,"mainEntity":57},"FAQPage",[58,64,68],{"name":59,"@type":60,"acceptedAnswer":61},"What tax areas does the report cover for current law under AFP’s policy context?","Question",{"text":62,"@type":63},"It reviews capital gain taxation, Medicare tax, ordinary income, and the treatment of property transfers at death and through lifetime gifts. 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It then assesses impacts on lifetime sales and on transfers at death or gift.","https://schema.org",{"og:url":32,"og:type":74,"og:title":10,"og:site_name":45,"og:description":12},"article",{"robots":76,"canonical":32},"index,follow",{"doc_id":78,"site_id":7},302759,1790180670,{"code":4,"msg":81,"data":82},"success",[83,88,93,98,103,108,113,118,123],{"id":84,"doc_module":22,"doc_module_name":25,"category_name":85,"show_sort_weight":86,"slug":87},11,"Presentations",90,"presentations",{"id":89,"doc_module":22,"doc_module_name":25,"category_name":90,"show_sort_weight":91,"slug":92},12,"Resumes",80,"resumes",{"id":94,"doc_module":22,"doc_module_name":25,"category_name":95,"show_sort_weight":96,"slug":97},14,"Invoices",70,"invoices",{"id":99,"doc_module":22,"doc_module_name":25,"category_name":100,"show_sort_weight":101,"slug":102},15,"Posters",60,"posters",{"id":104,"doc_module":22,"doc_module_name":25,"category_name":105,"show_sort_weight":106,"slug":107},16,"Social Media",50,"social-media",{"id":109,"doc_module":22,"doc_module_name":25,"category_name":110,"show_sort_weight":111,"slug":112},17,"Forms",40,"forms",{"id":114,"doc_module":22,"doc_module_name":25,"category_name":115,"show_sort_weight":116,"slug":117},18,"Letters",30,"letters",{"id":119,"doc_module":22,"doc_module_name":25,"category_name":120,"show_sort_weight":121,"slug":122},21,"Paper Templates",5,"papers-templates",{"id":124,"doc_module":22,"doc_module_name":25,"category_name":29,"show_sort_weight":4,"slug":125},158,"general-158",{"code":4,"msg":81,"data":127},{"doc_id":78,"user_id":128,"nickname":42,"user_avatar":129,"doc_module":22,"category_id":124,"category_name":29,"doc_title":10,"doc_description":12,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":30,"is_deleted":4,"is_public":22,"is_downloadable":22,"audit_status":22,"page_count":135,"language":136,"language_code":8,"site_id":7,"html_lang":8,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":12,"update_tm":140,"read_time":141},7421720224475,"https://ap-avatar.wpscdn.com/davatar_276721f389ce27ea32af1340a28f341c","August 2021 21-PB 35  \nThe Tax Implications of the American Families Plan on Iowa Farmland Owners  \nKristine Tidgren*, Dolezal Adjunct Assistant Professor, Agricultural Education & Studies Department, Director, Center for Agricultural Law and Taxation, Iowa State University, [ktidgren@iastate.edu](ktidgren@iastate.edu)  \nWendong Zhang, Associate Professor, Department of Economics and Center for Agricultural and Rural Development, Iowa State University, [wdzhang@iastate.edu](wdzhang@iastate.edu)  \n*Corresponding Author  \nPublished by the Center for Agricultural and Rural Development, 578 Heady Hall, Iowa State University, Ames, Iowa 50011-1070; Phone: (515) 294-1183;  \nFax: (515) 294-6336; [Web site: www.card.iastate.edu](Web site: www.card.iastate.edu).  \n© Author(s). The views expressed in this publication do not necessarily reflect the views of the Center for Agricultural and Rural Development or Iowa State University.  \nIowa State University does not discriminate on the basis of race, color, age, ethnicity, religion, national origin, pregnancy, sexual orientation, gender identity, genetic information, sex, marital status, disability, or status as a U.S. veteran. Inquiries regarding non-discrimination policies may be directed to Office of Equal Opportunity, 3410 Beardshear Hall, 515 Morrill Road, Ames, Iowa, 50011, Tel. (515) 294-7612, Hotline: (515) 294-1222, email [eooffice@iastate.edu](eooffice@iastate.edu).  \nAcknowledgements  \nThe authors gratefully acknowledge support from the USDA National Institute of Food and Agriculture Hatch Project 101,0309 and the ISU Center for Agricultural and Rural Development. We also thank Nate Cook, John Crespi, Chad Hart, Mike Duffy, Jamie Benning, Ann Johanns, and Kelvin Leibold for feedback and comments on an earlier draft.  \nTable of Contents  \nExecutive Summary ........................................................................................................................ 3  \nIntroduction ...................................................................................................................................12  \nCurrent Law-Capital Gain Tax Review ........................................................................................12  \nCapital Gain................................................................................................................................12  \nMedicare Tax ..............................................................................................................................13  \nOrdinary Income ........................................................................................................................13  \nProperty Transfers at Death.......................................................................................................14  \nProperty Transfers through a Lifetime Gift ...............................................................................14  \nCurrent Law-Estate and Gift Tax Review ....................................................................................14  \nAFP Proposed Changes – Increase Tax Rates ...............................................................................16  \nIncrease the Top Individual Tax Rate ........................................................................................16  \nEliminate Preferential Capital Gain Tax Rate Where Income >$1 Million ...............................16  \nExpand the Medicare Tax ..........................................................................................................16  \nAFP Proposed Changes: Death and Gift as Realization Events.....................................................16  \n$1 Million Exclusion................................................................................................................... 17  \nBasis Adjustment ....................................................................................................................... 17  \nInteraction with the Estate and Gift Tax......","cbCaim1mXdgclxmS","https://ap.wps.com/l/cbCaim1mXdgclxmS","pdf",972362,55,"English","# Executive Summary\n# Introduction\n# Current Law-Capital Gain Tax Review\n## Capital Gain\n## Medicare Tax\n## Ordinary Income\n## Property Transfers at Death\n## Property Transfers through a Lifetime Gift\n# Current Law-Estate and Gift Tax Review\n# AFP Proposed Changes – Increase Tax Rates\n## Increase the Top Individual Tax Rate\n## Eliminate Preferential Capital Gain Tax Rate Where Income >$1 Million\n## Expand the Medicare Tax\n# AFP Proposed Changes: Death and Gift as Realization Events\n## $1 Million Exclusion\n## Basis Adjustment\n## Interaction with the Estate and Gift Tax\n## Special Provisions for Trusts, Partnerships and Other Non-Corporate Entities\n## Deferral of Tax for Family Owned and Operated Businesses\n## 15-Year Payment Plan\n## Like Kind Exchange Limit\n# Data and Methodology\n## Data Description – 2017 Iowa Farmland Ownership and Tenure Survey\n## Approach to Calculating Individual Land Holdings and Basis\n## Approach to Calculating Potential Tax Liability under AFP\n## Impact of AFP upon Lifetime Sales\n## Impact of AFP upon Property Transfers at Death or Gift\n# Overall Impact\n## Impact on Farmers\n## Impact on Retired Farmers and Non-Farmers\n## Impact of the Exclusion","[{\"question\":\"What tax areas does the report cover for current law under AFP’s policy context?\",\"answer\":\"It reviews capital gain taxation, Medicare tax, ordinary income, and the treatment of property transfers at death and through lifetime gifts. It also reviews estate and gift tax under current law.\"},{\"question\":\"Which AFP proposed changes are evaluated as drivers of different tax outcomes?\",\"answer\":\"The report examines proposals to increase tax rates (including the top individual rate), eliminate a preferential capital gain rate above a specified income threshold, and expand Medicare tax. It also evaluates death and gift being treated as realization events.\"},{\"question\":\"How does the report estimate AFP’s impact on Iowa farmland owners?\",\"answer\":\"It uses data and methodology based on the 2017 Iowa Farmland Ownership and Tenure Survey, including approaches for calculating land holdings, basis, and potential tax liability under AFP. It then assesses impacts on lifetime sales and on transfers at death or gift.\"}]","The Tax Implications of the American Families Plan on Iowa Farmland Owners | PDF",1789796607,19]