Library

Weather-Related Sales of Livestock

Roger McEowen (August, 2012)

Summary

The drought in significant parts of the country during the summer of 2012 has raised a number of tax and law-related questions for farmers and ranchers. Those questions include the tax rules associated with sales of livestock on account of drought. The law contains special rules for farmers in this situation, but those rules can be complicated and must be followed to obtain any associated favorable treatment.