Schedule F line 12 has a conservation expense limit of 25% of income. how many years can you carry forward the expense?
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You can carry the unused deduction until it is used up. However, the deduction in any later year is limited to 25% of the gross income from farming for that year as well.
See IRS Pub 225 Farmer's Tax Guide
You can carry the unused deduction until it is used up. However, the deduction in any later year is limited to 25% of the gross income from farming for that year as well.
See IRS Pub 225 Farmer's Tax Guide
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