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Non-Cattle Specific Topics
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Seeking a Tax Tip, Schedule F Farming, Purchase of Livestock Hay Trailer
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<blockquote data-quote="1982vett" data-source="post: 1836601" data-attributes="member: 7795"><p>Oh, by the way, later when/if you sell it you would report it on Form 4797 Sale of Business Property. That essentially flows through Schedule D where it sorts out the capital gain/loss and then sends the appropriate amount to your Form 1040 Line 7 and the appropriate amount to Line 8. </p><p></p><p>Easy Peasy....</p></blockquote><p></p>
[QUOTE="1982vett, post: 1836601, member: 7795"] Oh, by the way, later when/if you sell it you would report it on Form 4797 Sale of Business Property. That essentially flows through Schedule D where it sorts out the capital gain/loss and then sends the appropriate amount to your Form 1040 Line 7 and the appropriate amount to Line 8. Easy Peasy.... [/QUOTE]
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Non-Cattle Specific Topics
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Seeking a Tax Tip, Schedule F Farming, Purchase of Livestock Hay Trailer
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