Hi,
I have two questions about filing taxes for my small farm business.
1) 2021 was my first year selling produce from my farm. Where can I input my start up costs (investments in the equipment etc. from before I was actually selling crops) from that and can I include equipment bought in previous years?
2) I won't receive payment for some of the crops I sold in 2021, until next month. Can I include that income in my 2021 taxes since that's when the products were sold, or do they have to be in 2022 when I receive the payment?
Thanks
Catie
