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G96-1301 Income Tax Issues Related To Scaling Down Or Liquidating A Beef-Cow Operation, Gary Bredensteiner

University of Nebraska-Lincoln Extension: Historical Materials

This NebGuide discusses the tax implications of reducing or shutting down a beef-cow operation.

Downsizing cattle numbers is occurring through herd reductions and complete liquidations. Whether partial or complete, liquidations have income tax implications. Those implications vary depending on the timing of liquidation, origin of the animals liquidated, nature of the liquidation, and organizational structure of the business. This publication considers the tax situation of the sole proprietor beef cattle business owner who uses cash accounting for tax purposes.

While the information contained in this document is thought to be accurate, it should not be used as a substitute for …