aj
Well-known member
I was looking through the latest shorhorn dispersal......30 head of purebred shorthorns......5 of which have the herds prefix on pedigrees. This is of course handling 2 other breeds. I got to wondered why these herds exist and etc etc. How.....for instance does the IRS handle the purchase of embryos? If you buy a embryo......can you write it off? Can you depreciate a embryo out without hatching it? Can you change ownership of a embryos owner? Can you gift an embryo? Is a 5,000$ donation to a junior assc deductable? On and on? Is there somewhere this is explained in the tax code? The most I have ever spent on a bull was 5,500 bucks and if memory serves he was depreciated out over 3 years. What constitutes a hobby farm? Can you deduct a 20,000$ livestock trailer if you own 2 steers? Thanks in advance.