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Cattle Boards
Health & Nutrition
Dead cow, photo for tax purposes?
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<blockquote data-quote="cypressfarms" data-source="post: 221667" data-attributes="member: 2653"><p>Bingo!</p><p></p><p>Only cattle bought that you are depreciating can be claimed if they die. Any new calves born into your herd are considered yours, and there is no depreciation or "tax value" to them.</p><p></p><p>New cowboy, if you claimed the cow's cost on your taxes (you would have likely depreciated it over 5 or 7 years), then you can deduct the amount left. If you've depreciated half of the value that you paid and she dies, you can deduct that remaining half.</p></blockquote><p></p>
[QUOTE="cypressfarms, post: 221667, member: 2653"] Bingo! Only cattle bought that you are depreciating can be claimed if they die. Any new calves born into your herd are considered yours, and there is no depreciation or "tax value" to them. New cowboy, if you claimed the cow's cost on your taxes (you would have likely depreciated it over 5 or 7 years), then you can deduct the amount left. If you've depreciated half of the value that you paid and she dies, you can deduct that remaining half. [/QUOTE]
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Dead cow, photo for tax purposes?
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