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<blockquote data-quote="OklaBrangusBreeder" data-source="post: 385275" data-attributes="member: 2672"><p>I have a Masters Degree in Taxation, and I'm here to tell you you cannot deduct a "loss" on the death of a raised animal (regardless of its age at death). No way at all...</p><p></p><p>Those costs of raising that animal were deducted at the time they were incurred. So (speaking in tax language) you have no "basis" in the raised animal to claim at death.</p><p></p><p>Anybody preparing a tax return otherwise is in error.</p></blockquote><p></p>
[QUOTE="OklaBrangusBreeder, post: 385275, member: 2672"] I have a Masters Degree in Taxation, and I'm here to tell you you cannot deduct a "loss" on the death of a raised animal (regardless of its age at death). No way at all... Those costs of raising that animal were deducted at the time they were incurred. So (speaking in tax language) you have no "basis" in the raised animal to claim at death. Anybody preparing a tax return otherwise is in error. [/QUOTE]
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