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Can I use our cow, lamb, goat and pigs we raised as a deduction on taxes?

 
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4 Replies
Vanessa A
Expert Alumni

Can I use our cow, lamb, goat and pigs we raised as a deduction on taxes?

Probably not. If they were raised for you as pets or for food, then no.  If you had a farm, then you can claim the feed and care as farm expenses. 

 

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Can I use our cow, lamb, goat and pigs we raised as a deduction on taxes?

They are raised as ag/FFA projects. Does that change anything?

Can I use our cow, lamb, goat and pigs we raised as a deduction on taxes?

In follow up, we are breeding the heifer. 

MaryK4
Expert Alumni

Can I use our cow, lamb, goat and pigs we raised as a deduction on taxes?

When your child sells their 4-H project, they will have to report the income but it is not subject to self-employment.  Usually you would not be able to deduct the expenses because it is not self-employment, but there is a special rule that allows you to net the expenses against any income.  @alleyhebert 

 

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