Home
Markets
EquipmentMart
Ads/Auctions
Weather
News
Radio
ILFB.org
Blogs
FarmWeekNow
FWNow by E-mail
FarmWeek Mobile
Contact Us
Main Markets
Cash Strategist
DDG/Energy Page
Submit Classified Ad
FW Classifieds
Auctions
Watch Us Grow
Main News
Cropwatchers
Main Radio
Staff
Affiliates
About RFD Radio
Tweet
Post to Your Wall.
Income Tax Deferral of Crop Insurance and/or Disaster Payments
Roger McEowen of the Center for Agricultural Law and Taxation at Iowa State University has this backgrounder on income tax treatment of crop insurance proceeds.
Compiled by staff
Published: Jul 30, 2012
The drought in significant parts of the corn-belt during the summer of 2012 has raised familiar questions about deferability of crop insurance proceeds. The issue is especially important for those farmers that have a history of reporting crop income in the year after the year of harvest. The Internal Revenue Code allows deferability of crop insurance proceeds if certain requirements are satisfied.
Continue reading at:
http://www.farmdocdaily.illinois.edu/2012/07/the_2012_drought_and_income_ta.html
Permalink:
Click here
Comments
Read comments from others and share your own thoughts.
Please provide the answer to the following question:
=
Search this site:
Read More Stories
Ag groups seek to knock down EU barriers
A broad collection of U.S. farm interests have urged the nation's likely next top trade official to leave nothing off the table in talks with the European Union (EU).
Read this story
Federal aid approved for 14 more counties
Disaster aid also sought for local governments.
Read this story
Senate agrees to crop insurance limits
Senate action would reduce crop insurance premium subsidies for larger farm operations.
Read this story
Today
Week
Month
Senate agrees to crop insurance limits
Federal aid approved for 14 more counties
Farmland prices moderate after incredible run
Ag groups seek to knock down EU barriers
Can U.S. diesel use power up without credit?
Rainy week ahead for Illinois farmers
Illinois farmers catch up on corn planting
Cash soybean basis levels fall for third day
FarmWeek for May 6
Wet weekend forecast for Illinois
Top 50
Tags
VISIT THE ILLINOIS FARM BUREAU WEBSITE
/
ABOUT ILLINOIS FARM BUREAU
Powered by iNet Solutions Group   ©2013 All rights reserved.