My husband bought a tractor for $16500 to use on land we are harvesting pine trees. Can we write this expense off?

papierce67 — Thu, 06 Jun 2019 09:14:39 GMT

We still owe about $25,000 on this land. We purchased with indent of agricultural purposes, harvest pine trees then run cattle.

Timber sales are usually from an unmaintained forest and...

Cattlerancher — Thu, 06 Jun 2019 09:14:40 GMT

Timber sales are usually from an unmaintained forest and sold as capital gain income, not as earned income (schedule F) therefore schedule F expenses for timber sales may be a red flag to the IRS.

If you start operating a cattle ranch and have calf sales from cows or breeding stock sales, that would be entered on schedule F along with ordinary expenses used in a cattle ranch, this would include your tractor depreciation.

topic My husband bought a tractor for $16500 to use on land we are harvesting pine trees. Can we write this expense off? in Deductions & credits

My husband bought a tractor for $16500 to use on land we are harvesting pine trees. Can we write this expense off?

Timber sales are usually from an unmaintained forest and...