- Personal or living expenses (such as taxes, insurance, or repairs on your home) that don't produce farm income
- Expenses of raising anything you or your family used that would not have otherwise been deductible as an expense except for the presence of the income-producing farm activity
- The value of animals you raised that died
- Inventory losses
- Personal losses
- If you were repaid for any part of an expense during the same year, you must subtract the amount you were repaid from the deduction
What expenses should I not deduct for my farm?
Don't deduct the following:
