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March 6, 2024
Question

Farm Fence Expense

  • March 6, 2024
  • 1 reply
  • 0 views

Just a little background ... own 20 acres classified as Agriculture, because it is farmed.  I allow a farmer to farm my 20 acres.  The only exchange is bartered land maintenance in exchange for growing crops, which he sells.  I sometimes get some of the crop if I need it; i.e., straw for chicken pen.  I had to have installed a 1,000 linear ft Farm Horse Fence to have clear delineation between neighbors and farm land.  Can I expense this Farm Horse Fence? 

1 reply

Rick19744
March 6, 2024

In order to be deductible you need to have a trade or business, which I don't see in the limited facts.

As such, this expense is personal and no deduction.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.