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Displaying 3021 - 3030 of 5221
Farm Type
CROP FARM … 8,439
16 OTHER CROP … 4,120
18 CROP INSURANCE PROCEEDS …
Farm Type
CROP FARM … 5,054
16 OTHER CROP … 3,719
18 CROP INSURANCE PROCEEDS …
Detailed Cost - Farm Type
Crop Non-Irrigated 663 Farms
17361783
Harv … Farms
17361783
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 18.81 19.33
7,195-8-37,206Crop Mach Repair 7,195 4.04 4.15
449449Irrigation …
Detailed Cost - Farm Type
Crop Non-Irrigated 571 Farms
17551666
Harv … Farms
17551666
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 24.34 23.11
10,80410,804Crop Mach Repair 10,804 6.48 6.15
5362534Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 131 Farms
11011133
Harv … Farms
11011133
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 22,763 20.09 20.67
6,5506,550Crop Mach Repair 6,550 5.78 5.95
271271Irrigation …
January 1, 2013
Land Leasing
Forms
developing rental agreements for crop and livestock buildings and … developing rental
agreements for crop and livestock buildings
and … livestock, machinery or stored crops are located
where they cannot …
Detailed Cost-Farm Type
Analysis
FARM TYPE - CROP FARM … LIVESTOCK _____________CROPS … TOTAL TOTAL PER CROP PER HARVESTED
DESCRIPTION …
Detailed Cost - Farm Type
Crop Non-Irrigated 583 Farms
18001650
Harv … Farms
18001650
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 25.38 23.26
12,95773412,916Crop Mach Repair 12,957 7.85 7.20
742742Irrigation …
Detailed Cost-Farm Type
Crop Non-Irrigated 318 Farms
17291536
Harv … Farms
17291536
Harv
Acre
Crop
AcreCrop
Total
Livestock
TotalTotal … 28,302 18.43 16.37
2,1712,171Crop Mach Repair 2,171 1.41 1.26
203203Irrigation …
August 15, 2016
Breakout session presentations
Depreciation allowed or allowable• Fair Market Value (FMV)• Special use valuation on real estate (2032A elections)• … Basis reduction is $0 when the aggregate of the basis of the property held by the taxpayer immediately after the discharge did not exceed the aggregate of the liabilities of the taxpayer immediately after the discharge
Transactions that Create Tax Challenges:
Bunching of Income:
Betty Beans carries forward grain from 2015 to be sold in 2016. Betty cannot get credit to put in 2016 crop, her operation is shut down. She has no production expenses to offset carryover income. Betty will be subject to Federal, Self Employment, and possible State Taxes
Transactions that Create Tax Challenges:
Rapid Depreciation:Fred Farmer bought a grain drill in 2014 for $50,000. His KFMA Economist recommended regular depreciation, but Fred refused to pay anymore taxes than necessary, so section 179 was utilized and $50,000 was depreciated in 2014.
Fred decided to sell the drill in 2016 to pay some debt. He received $30,000 for the drill and his tax depreciation basis was $0. Taxable gain on the drill sale was $30,000 ($30,000 sale –basis $0). Fred will be liable for Federal and possible State Taxes.
Transactions that Create Tax Challenges:
Property turned over to lender (same as sold outright):
Jim decides to turn his planter back to CNH Capital since he can’t make the payments. He has a basis in his planter of $10,000. The FMV of the planter is $65,000 and he owes CNH Capital $90,000. CNH Capital is willing to take back the planter to satisfy the loan.
Jim’s Planter Turn back?
Recourse Debt
DEBT …