Posted by JMS/.MN on December 26, 2011 at 17:47:22 from (209.237.107.155):
In Reply to: OT tax question posted by jordan watson on December 26, 2011 at 15:32:13:
You already had a 10 cow operation, and did not file farm....1040 F? Now go to 5 times as many and a tax guy says you can"t file a farm return? You need to find a real tax accountant. Even an LPA should know more than that. You do need good records of income and expenses for throughout the year. There are carryover issues as well with any continuing operation. Both expenses and depreciation, as well as purchases that qualify for section 179. If he can"t explain that....keep looking.
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