calves for 4h donation

[SPRINGER FARMS MURRAY GRE]

Anyone on the boards ever donate a calf to the local 4H for a kid to show? What are the tax ramifications of the donation? How are the details usuallu worked out? Any ideas would be appreciated! :cboy: :?:

 

[Bez!]

Anyone on the boards ever donate a calf to the local 4H for a kid to show? What are the tax ramifications of the donation? How are the details usuallu worked out? Any ideas would be appreciated! :cboy: :?:

I just gave the calves away and never worried about the rest of the stuff. The point is to get the kids on their way - the tax issues - if any - are not worth worrying about.

Bez!

 

[mitchwi]

It seems most I've heard about is the farmer gives the calf to the kid, or lets the kid keep it at the farmers as sometimes the kids have no place for it. Kid keeps it fed, does the training, usually the farmer supplies the feed for the calf if its kept at the farmers. Fair time, the kid shows it, and if the kid can sell it in the ring at the fair, the kid keeps anything over the market... if the kid can't sell it in the ring, it goes to the sale barn and farmer gets market for it at that time.... farmer usually gives the kid somekind of "kickback" .... big dairy communities around here, so these tend to be the holstein steer calves...

 

[jersey lilly]

Here, they do scramble heifers, the ranchers donatin the heifers are updated monthly on the progress of the animal. If for some reason the kid ain't takin care of it proper, the rancher takes it back. (that doesn't happen often) Most of the kids here keep their heifers and don't sell, breed that heifer and turn around and show it as a cow calf pair the next year.
If they do choose to sell, the kid keeps all the money from the sale at the fair auction.