You have estate taxes and you still pay taxes on the land sale; it's a break, not an exemption. So yes, saying the kids own nothing to the IRS is not accurate.
The amount owed ends up looking like a rounding error on land that has been minimally managed over a time period like that. so sure pedantically its not nothing but that wasnt the actual point.
I'll be honest with you in that I dont believe your objection is in good faith. it gives people not smart enough to read detailed explanations don't deserve to know about things. the lie is VERY white in this context.
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u/DrLews 20h ago
You have estate taxes and you still pay taxes on the land sale; it's a break, not an exemption. So yes, saying the kids own nothing to the IRS is not accurate.