ESTATE TAX
Farm Equipment Appraisal for Estate Tax
Farm equipment appraisal services for estate tax covering date-of-death fair market value, IRS Form 706 reporting, and stepped-up cost basis, prepared in accordance with USPAP. Harvest Equipment Appraisals documents defensible estate tax values on tractors, combines, planters, and irrigation systems for executors and estate attorneys nationwide.
ESTATE TAX REQUIREMENTS
Estate Tax Filings Require a Qualified, Date-of-Death Valuation of Farm Equipment
Our reports give executors and estate attorneys documented, date-of-death values that support an IRS Form 706 filing, establish a stepped-up cost basis for the heirs, and hold up if the valuation is examined.
Date-of-Death Fair Market Value
We value equipment at fair market value as of the decedent's date of death, the basis the IRS requires for the gross estate on Form 706.
USPAP Compliance
Every report is prepared in accordance with the Uniform Standards of Professional Appraisal Practice, giving the estate a defensible, standards-compliant valuation.
Stepped-Up Basis Documentation
Documented date-of-death values establish the heirs' stepped-up cost basis, reducing capital-gains exposure when equipment is later sold.
Form 706 Report Format
A professional report with photos, specifications, and market comparables, formatted to support the estate tax return and any subsequent review.
ASSET CLASSES
Harvest Equipment Appraisals Appraises All Types of Farm Equipment Reported in a Taxable Estate
We value the full range of agricultural machinery that appears in a farm estate, from primary tillage through harvest.
Tractors & Power Units
- Row-crop tractors
- Utility tractors
- Four-wheel-drive and track tractors
Harvesting Equipment
- Combines
- Grain and corn heads
- Forage harvesters and windrowers
Tillage & Planting
- Planters and seed drills
- Tillage implements
- Sprayers and applicators
Irrigation & Specialty
- Center-pivot irrigation systems
- Grain bins and augers
- Specialty ag machinery
ESTATE TAX VALUATION
How We Appraise Farm Equipment for Estate Tax Reporting
- 01
Request & Estate Details
Share the equipment list, the date of death, and the filing deadline so we can confirm the scope and a fixed fee before work begins.
- 02
Desktop or On-Site Inspection
Equipment with strong records and photos can typically be valued through a desktop review; older or specialized machinery usually warrants a full on-site visit with condition assessment and photographic documentation.
- 03
Retrospective Market Analysis
Our appraisers research values as of the date of death using auction results, dealer listings, and regional sales data specific to the make, model, hours, and condition.
- 04
Certified Report Delivered
A USPAP-compliant appraisal report is delivered for the estate tax return, the executor, and the estate's attorney or CPA. Turnaround varies by project, and we confirm timing up front.
CREDENTIALS
Certified Agricultural Equipment Appraisers
Our appraisers hold credentials with leading agricultural and machinery appraisal organizations, so estate tax valuations meet the standards the IRS, executors, and estate attorneys expect.
ASA
USPAP
CAGA
COMMON QUESTIONS
Common Farm Equipment Appraisal Questions for Estate Tax
When does a farm estate need an equipment appraisal for estate tax?
An estate that exceeds the federal estate tax exemption must file IRS Form 706 and report the fair market value of its assets, including farm equipment. Even estates below the threshold often benefit from a date-of-death appraisal to document the heirs' stepped-up cost basis. We prepare retrospective valuations that establish the equipment's value as of the date of death.
What is the alternate valuation date and can my estate use it?
The alternate valuation date lets a qualifying estate value its assets six months after the date of death rather than on the date of death itself, when doing so reduces both the gross estate and the estate tax. We can value farm equipment as of either date so the executor and CPA can compare the two and document the figures the return requires.
Does the IRS require a qualified appraisal for farm equipment on Form 706?
The IRS expects estate values to be supported by a credible, well-documented appraisal. Our reports are prepared in accordance with USPAP and documented with verifiable market evidence and a clear methodology, so the values reported on Form 706 are defensible if the return is examined.
How does a date-of-death appraisal establish a stepped-up cost basis?
When equipment passes through an estate, the heirs' cost basis is generally stepped up to the fair market value on the date of death. A documented appraisal fixes that value, so when the equipment is later sold, capital gains are measured from the stepped-up basis rather than the decedent's original cost. For estates settling remotely, our online farm equipment appraisal option can establish the value from records and photographs.
How do you determine fair market value of farm equipment for estate tax?
Fair market value reflects the price the equipment would bring between a willing buyer and seller. Our appraisers analyze auction results, dealer listings, and regional sales data for the specific make, model, hours, and condition, then document each comparable so the value is transparent. If the estate is also in probate, our farm equipment appraisal for probate covers the court inventory, and our pricing page lists current rates.
GET STARTED
Get Your Farm Equipment Valued for Estate Tax
Share the estate and equipment details, and we'll confirm scope and a fixed fee before any work begins.