Publication 225

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You Are Here: Main Page > Tax Research Resources > Forms & Publications > Publication 225

Farmer's Tax Guide

Overview

You are in the business of farming if you cultivate, operate, or manage a farm for profit, either as owner or tenant. A farm includes stock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and orchards. This publication explains how the federal tax laws apply to farming. Use this publication as a guide to figure your taxes and complete your farm tax return.

A farmer, like other taxpayers, must keep records to prepare an accurate income tax return and determine the correct amount of tax. Chapter 1 of this publication explains the benefits of keeping records, what kinds of records you must keep, and how long you must keep them for federal tax purposes.

Tax records are not the only type of records you need to keep for your farming business. You should also keep records that measure your farm's financial performance. This publication only discusses tax records.

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