Tax Question (not Tax Advice) - Form 1065-A "Generic Poultry Value"

[U_Stormcrow]

Question - I am NOT seeking Tax advice, like whether I need to complete a 1065-A, or whether i need to report the value of my flock for inventory purposes on a 1065-A or not or anything like that.

ASSUMING that I do need to provide a valuation... What value, if any, are you placing on a "generic laying hen (mutt)". Do you use the same figure for your roosters (also mutts)? Ducks?

Seemingly, I need to finish my 1065 for my LLC in the next 24 hours (or less) to get it mailed off, and I haven't a clue what my birds are worth (fair value). That I don't have enough profit to result in a tax burden is immaterial, I'm just trying to be a good citizen and do things correctly. ...and, of course, it may matter in future tax years.

Thanks!

(I'm also searchign Cragslist, etc to see what the current market looks like, and will be poking around the local ACE and TSC for chick values as a reference, as well.)

 

[JacinLarkwell]

I would find out over the year how much you spent on feed, divide by the number of birds staying, and then multiply each bird by how many years old it is. And then add on 5 bucks for each as a chick price like of you had bought them at the store.

 

[U_Stormcrow]

Locally, adult hens are getting $15-25, bsl rsl rir leghons getting the higher end, dropping to 15-20 as they age up. Roosters are across the board $5-10 cheaper, and of course mutts run cheaper by about $5.

Unless I find a USDA or IRS document saying otherwise, or more input from the community, I'm going to use $20/ as a fair market average for the young hens and $10/ for the roos. Which is probably close to the meat value on them.