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Taxes&Cattle?
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<blockquote data-quote="wideurt" data-source="post: 325765" data-attributes="member: 5457"><p>I understand that you can only deduct once. If you took the deduction for the price of the cow that part is done. If she dies you lost a cow,if you sell her you made money.What I not understanding is if I buy 10 heifers for no matter what(calf operation,orto fatten her up & sell)as long as it is buissness,Ishouldn't have to pay taxes on the moneys spent for the heifers it should come off the top of my income.</p></blockquote><p></p>
[QUOTE="wideurt, post: 325765, member: 5457"] I understand that you can only deduct once. If you took the deduction for the price of the cow that part is done. If she dies you lost a cow,if you sell her you made money.What I not understanding is if I buy 10 heifers for no matter what(calf operation,orto fatten her up & sell)as long as it is buissness,Ishouldn't have to pay taxes on the moneys spent for the heifers it should come off the top of my income. [/QUOTE]
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