Breeding livestock
Varies
Can You Write Off Breeding Livestock?
Short answer: Yes: purchased breeding cattle, hogs, and horses are depreciable; raised breeding stock has no basis to depreciate.
Farmers report on Schedule F; ordinary farm costs are deductible, and equipment can be expensed with Section 179 or bonus depreciation.
Records to keep: Keep receipts, 1099s or W-2s, a mileage log, and a note of the business purpose. W-2 employees should ask about employer reimbursement.
Breeding livestock
Varies
Remote Workers / Freelancers / Consultants
Yes: purchased breeding cattle, hogs, and horses are depreciable; raised breeding stock has no basis to depreciate.
Business justification
Yes: purchased breeding cattle, hogs, and horses are depreciable; raised breeding stock has no basis to depreciate. Farmers report on Schedule F; ordinary farm costs are deductible, and equipment can be expensed with Section 179 or bonus depreciation.
Category
- Write-Offs by Job