Posted 2/10/2010 15:33 (#1068223) Subject: IRS change.. can't use net $$ from grain reciepts
SW MN and Gold Canyon AZ
I was told by my a farm management teacher that one must put gross reciepts down as income and then take drying,storage, dock ect.. as an expense. Can't just put down net dollars recieved. Evidently we were supossed to get 1099's from the elevators on this. I haven't seen any. Anyone heard about this???
IRS change.. can't use net $$ from grain reciepts
