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Did you purchase the cow for resale? If you had other sales, you would enter the total of your other sales in the income section under Livestock, grain, produce, custom work, co-ops. You wouldn't have to enter zero for the sales proceeds for the cow. If you didn't sell any other livestock, leave the sales box empty, and then enter the cost of the cow in the box for Cost of Items Bought for Resale. You would already have entered that you are a cash basis farm in the Farm Information section.
Did you purchase the cow for resale? If you had other sales, you would enter the total of your other sales in the income section under Livestock, grain, produce, custom work, co-ops. You wouldn't have to enter zero for the sales proceeds for the cow. If you didn't sell any other livestock, leave the sales box empty, and then enter the cost of the cow in the box for Cost of Items Bought for Resale. You would already have entered that you are a cash basis farm in the Farm Information section.
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