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Can I claim a farm loss on taxes for my hens?

post #1 of 19
Thread Starter 

I am doing my taxes for 2010. 1 question is farm related- expenses and income. I sold 50.00 worth of eggs this year from my 11 hens, but built a coop in the spring for them, spent approximately 600. on chicken feed, etc....can I claim to have losses as a 'farmer'? It doesn't say what size of a farm operation you need to have......Please advise- I'm trying to have less to pay the IRS. Thanks!

post #2 of 19

I think you can claim fuel costs as well?

 My how this farm has changed us!

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 My how this farm has changed us!

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post #3 of 19
Thread Starter 

Really, even if I don't really use my car for anything chicken related? Except to run some eggs to work to sell, and to the neighbors down the road?

post #4 of 19

You can do farm expenses, but it is done on a different form. If you have your taxes prepared for you, expect to pay more to have it done. You will most likely get more of your income taxes returned to you if you spent more than you made.

Have receipts in case you get an audit. It doesn't happen often, but they WILL ask for receipts.

Examples of expenses you can use:
feed costs
mileage for a farm vehicle (know farm mileage vs. other mileage, such as commuting to work)
seeds, plants
chemicals, fertilizers
medications
show costs, membership costs
NPIP fees
General supplies, such as feed containers, waterers, pine shavings, etc

Examples of income you need to use:
Any birds or eggs you sold
Show winnings

I hope this helps! Contact your local accountant or tax office for more ideas.


Edited by greenfamilyfarms - 1/31/11 at 5:52am
post #5 of 19
Thread Starter 

I am doing my own taxes on Taxact.com- schedule F is what comes up for profit and loss on farming- I have an 1800. loss after the coop was built, straw, heatlamps, feed, a bit on utilities, feeders, waterers, etc.....does it matter than I have a regular job, but just sell eggs on the side (and not very many at that- I only have 2 customers:)?? I'm trying to pay the IRS less- Currently I am owing 219.00, but this came down from 600. some that I owed before I put in the farming expenses.....Just trying to get all the deductions I can.

post #6 of 19

Tax advice from an anonymous internet forum.  Priceless.

Seriously, unless you enjoy meeting new people (at an IRS audit process), you might want to obtain professional guidance.

 

 

Practicing Sustainable Agriculture At The 45th Parallel

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Practicing Sustainable Agriculture At The 45th Parallel

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post #7 of 19

Husband, Father, Livestock Nutritionist, Farmer
 

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Husband, Father, Livestock Nutritionist, Farmer
 

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post #8 of 19

Fred's Hens :

Tax advice from an anonymous internet forum.  Priceless.

Seriously, unless you enjoy meeting new people (at an IRS audit process), you might want to obtain professional guidance.


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Yep

Husband, Father, Livestock Nutritionist, Farmer
 

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Husband, Father, Livestock Nutritionist, Farmer
 

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post #9 of 19

Lazy J Farms Feed & Hay :

http://www.irs.gov/pub/irs-pdf/p225.pdf


Thanks for the link.  I have been wanting to know what to do as farm as being listed as a "farm" and taxes.  I will read the link and hope that this helps.  I know that this is a stupid question........but do you have to complete some type of form to list your place as a "farm" or do you just classify it as such when you do your taxes?

NPIP Certified -115 Chickens, 19 Geese, 19 BR Turkeys, 7 Rabbits, 120 Muscovy Ducks , 9 Guineas, 9 Peafowl, 8 sheep, 1 Goat and currently have 100 broilers to be processed March 2014.  And it's broody/hatching season all over again for 2014.
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NPIP Certified -115 Chickens, 19 Geese, 19 BR Turkeys, 7 Rabbits, 120 Muscovy Ducks , 9 Guineas, 9 Peafowl, 8 sheep, 1 Goat and currently have 100 broilers to be processed March 2014.  And it's broody/hatching season all over again for 2014.
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post #10 of 19
Quote:
Originally Posted by TeriS 

I am doing my own taxes on Taxact.com- schedule F is what comes up for profit and loss on farming- I have an 1800. loss after the coop was built, straw, heatlamps, feed, a bit on utilities, feeders, waterers, etc.....does it matter than I have a regular job, but just sell eggs on the side (and not very many at that- I only have 2 customers:)?? I'm trying to pay the IRS less- Currently I am owing 219.00, but this came down from 600. some that I owed before I put in the farming expenses.....Just trying to get all the deductions I can.


Same here

NPIP Certified -115 Chickens, 19 Geese, 19 BR Turkeys, 7 Rabbits, 120 Muscovy Ducks , 9 Guineas, 9 Peafowl, 8 sheep, 1 Goat and currently have 100 broilers to be processed March 2014.  And it's broody/hatching season all over again for 2014.
Reply
NPIP Certified -115 Chickens, 19 Geese, 19 BR Turkeys, 7 Rabbits, 120 Muscovy Ducks , 9 Guineas, 9 Peafowl, 8 sheep, 1 Goat and currently have 100 broilers to be processed March 2014.  And it's broody/hatching season all over again for 2014.
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