taxable grant

[gman]

is received from USDA. Taxpayer recieves letter stating it is taxable. Would it be reproted on Sch F line 6, or possible other income? Also taxpayer used entire grant 25,000.00 for the land, so it would be expensed in same year. or possible limited to conseravation limits??

[DebbieC100]

Taxable Grant

We used this reference - check it out.

http://www.timbertax.org/publications/FS/taxtips/TaxTips08.pdf

DebbieC100