How to report dead livestock for breeding

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  • unzuetay
    Member
    • Jan 2015
    • 45

    #1

    How to report dead livestock for breeding

    Client purchased a hefer for breeding. How do I report this? It was bought and dead by a bull attack in the same year. Client already has a loss on their Sch F so can't sec. 179 to create a bigger loss. As of now I have it on Sch F Line 1b, but without sales of purchased livestock concerned this may red flag for the IRS. Any ideas?
  • TAX4US
    Senior Member
    • Mar 2010
    • 551

    #2
    I have always put mine down in other expenses. Esp if bought and died in same year.

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    • Twin Turbo Z
      Senior Member
      • Feb 2014
      • 372

      #3
      Breeding animals are usually depreciated. But as stated above by 4US "other expenses" fine. Must have been one angry bull.

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      • ATSMAN
        Senior Member
        • Jul 2013
        • 2415

        #4
        Must have been one angry bull.
        Must have spurned his advances!
        Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR

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