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 | Catfish
Join Date: Sep 2003 Posts: 15 Rhode Island 
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1999-07-16 6034
What rules apply to deducting your tractor or depreciating it on your taxes? Do you have to farm for profit to deduct the tractor? If so, has anyone come up with some interesting agribusiness to deduct a tractor and implements.
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| Scott
Join Date: Posts: 1
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1999-07-20 6137
Try tree farming. Only requires that you have 10 acres with trees. Hey it might work?!? ....
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| jay
Join Date: Feb 2002 Posts: 43 huletts landing ny
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1999-07-27 6363
Catfish,Watch out for this subject, it hurts like heck to pay back taxes with a penalty. In Illinois you have to raise a crop that goes to market, like hay for example, just mowing 10 acres for example will cut it. Call a tax person in an Agricultural community for details, (they tend to know what you are talking about) Best bet to pay taxes, deprciate later. ....
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