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Is the land held in the trust itself? 

 

Trust income tax rates are highly compressed but capital gains tax rates still apply. The trust's rate can be determined by using the worksheet at the link below. 

 

https://www.irs.gov/instructions/i1041#idm140229123653248

 

Note that changes for the 2021 tax year cannot be determined at this point in time.

 

 

As an aside, trusts distribute income, gain, property, et al,. to their beneficiaries; individuals do not "inherit" anything from trusts (trusts make distributions). Regardless, depending upon how the trust acquired the land, it may have entered the trust with a stepped up basis (stepped up to its fair market value on the death of the settlor/previous owner of the asset).