Right. So they don't get the step up in basis without actually paying the tax. Still, having to pay capital gains is likely only 15%. It sucks (and I don't agree with it for a variety of reasons) but I don't think it will force many people to sell that would otherwise hold onto the land.
It’s also in the plan that capital gains are to be taxed as income. At least that’s what Biden said before he was elected.
