Tax Tips - Agriculture

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Tax Tips - Agriculture

Reporting Farm Income and Expenses FS-2007-20, June 2007 — Livestock, produce and grain sales are common sources of farm income. Patronage Dividends - Agriculture Tax Tips Do you know what to do with your 1099-PATR? Cancellation of Debt - Agriculture Tax Tips Have you had a portion of a loan forgiven? Disaster Area Losses - Agriculture Tax Tips Has your county been declared a Federal Disaster Area? Net Operating Losses - Agriculture Tax Tips Did you have a really bad year? Crop Insurance and Crop Disaster Payments - Agriculture Tax Tips Are these payments taxable? Farm Income Averaging - Agriculture Tax Tips Is your profit greater than normal? Prepaid Farm Expenses - Agriculture Tax Tips Do you buy supplies in advance? Items Purchased for Resale - Agriculture Tax Tips When do you deduct the cost of livestock and other items? Soil and Water Conservation - Agriculture Tax Tips Do you have an erosion problem? Commodity Credit Corporation Loans - Agriculture Tax Tips When does a loan become income? Sales Caused By Weather-Related Condition - Agriculture Tax Tips How can you report the income? Fuel and Road Use Tax - Agriculture Tax Tips Are you paying too much fuel tax? National Tobacco Growers Settlement Trust Payment - Agriculture Tax Tips Are my settlement payments taxable?

Page Last Reviewed or Updated: February 25, 2011