Quote:
great question..
Check with your accountant but generally if you are running your operation as a farm as a business (selling, advertising, trying to make money,etc) then you can file a schedule F. You can have losses and still be able to claim them if the intent is to make profit.
If you only use for personal use then the answer is no. I've included a link to more info below.
http://taxes.about.com/b/2005/02/22/schedule-f-tax-tips-for-farmers.htm
Thanks. I have a call into my CPA now.
great question..

Check with your accountant but generally if you are running your operation as a farm as a business (selling, advertising, trying to make money,etc) then you can file a schedule F. You can have losses and still be able to claim them if the intent is to make profit.
If you only use for personal use then the answer is no. I've included a link to more info below.
http://taxes.about.com/b/2005/02/22/schedule-f-tax-tips-for-farmers.htm
Thanks. I have a call into my CPA now.