topic This year I bought some cows and I want to deduct the expenses (raising cattle). do I claim that I have started a new business? or just claim deductions related to above in Deductions & credits https://ttlc.intuit.com/community/tax-credits-deductions/discussion/this-year-i-bought-some-cows-and-i-want-to-deduct-the-expenses-raising-cattle-do-i-claim-that-i-have/01/657490#M85975 Thu, 06 Jun 2019 09:16:31 GMT kyledavis99 2019-06-06T09:16:31Z This year I bought some cows and I want to deduct the expenses (raising cattle). do I claim that I have started a new business? or just claim deductions related to above https://ttlc.intuit.com/community/tax-credits-deductions/discussion/this-year-i-bought-some-cows-and-i-want-to-deduct-the-expenses-raising-cattle-do-i-claim-that-i-have/01/657490#M85975 Thu, 06 Jun 2019 09:16:31 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/this-year-i-bought-some-cows-and-i-want-to-deduct-the-expenses-raising-cattle-do-i-claim-that-i-have/01/657490#M85975 kyledavis99 2019-06-06T09:16:31Z In order to claim deductions, you'll want to report this... https://ttlc.intuit.com/community/tax-credits-deductions/discussion/in-order-to-claim-deductions-you-ll-want-to-report-this/01/657497#M85977 <P>In order to claim deductions, you'll want to report this as a Business or a Farm. Otherwise, it is considered a hobby. You can deduct hobby expenses, however, you cannot take a loss on a hobby, so you couldn't claim the deductions for the expense until you had a profit (or sold your cows).</P><P>Please see this link for more information:&nbsp;<A href="https://ttlc.intuit.com/replies/5675571" target="_blank">https://ttlc.intuit.com/replies/5675571</A></P> Thu, 06 Jun 2019 09:16:33 GMT https://ttlc.intuit.com/community/tax-credits-deductions/discussion/in-order-to-claim-deductions-you-ll-want-to-report-this/01/657497#M85977 ShawnaD 2019-06-06T09:16:33Z