Announcement

Collapse
No announcement yet.

How to report dead livestock for breeding

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    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?

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

    Comment


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

      Comment


        #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

        Comment

        Working...
        X