Deduction/Credit

[0816]

Can I deduct or get credit for monies spent for a conservation project that was needed due to flooding.  Permits were approved by DEP, etc. 

[ColeenD3 · Accepted solution]

The deduction for conservation expenses cannot be more than 25% of your gross income from farming. See 25% Limit on Deduction, later. Although some expenses are not deductible as soil and water conservation expenses, they may be deductible as ordinary and necessary farm expenses.

IRS