Announcement

Collapse
No announcement yet.

Famer and the safe harbor rule

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Famer and the safe harbor rule

    Farmer buys approx. $4000 worth of items at auction. He brought me the list and all 12 items sold under $500. Do I elect the safe harbor rule and put these items under supplies, or list all of them separately as "other expenses" on line 32?
    Tags: None
    #2
    You can call it supplies or "small parts and Equipment"

    Comment

      #3
      Sounds good, thanks

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...