@vws2boys1 wrote:
Since we were unable to have a sale, how does that work?
Thank you for your help!
If there was no taxable income from selling the livestock then there is no income to deduct from. A deduction only reduces the amount of taxable income and tax. No income no tax anyway.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
