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Non-Cattle Specific Topics
Coffee Shop
Taxes and Claiming Loss?
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<blockquote data-quote="BK9954" data-source="post: 1391286" data-attributes="member: 23651"><p>I have endured loss my last 3 years of ranching. From start up when the market was at its peak, market crash, and culls that I bought when prices were high. Looking better for the next few years as I have gotten my system in place and incurred the brunt of the market crash impact, learned and gained experience, and have the equipment I need to run my operation. How how many years of loss on your taxes do you usually claim if you do have loss? I heard you can only claim 2. If this is true what do you claim when you have loss? I file my taxes myself. Should I get a pro to start filing them?</p></blockquote><p></p>
[QUOTE="BK9954, post: 1391286, member: 23651"] I have endured loss my last 3 years of ranching. From start up when the market was at its peak, market crash, and culls that I bought when prices were high. Looking better for the next few years as I have gotten my system in place and incurred the brunt of the market crash impact, learned and gained experience, and have the equipment I need to run my operation. How how many years of loss on your taxes do you usually claim if you do have loss? I heard you can only claim 2. If this is true what do you claim when you have loss? I file my taxes myself. Should I get a pro to start filing them? [/QUOTE]
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Taxes and Claiming Loss?
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