Source: Rhonda Brooks, AGWEB, 1/23/19


The IRS released its final 199A regulations earlier this month, and many farmers are scrambling to determine how those regulations and the new tax law, in general, will affect their operations. “It’s going to create what I call ugly tax returns,” says Paul Neiffer, a tax accountant with CliftonLarsonAllen LLP and author of The Farm CPA on Farm Journal’s Agweb.com. “We’re going to have all these gains over on form 4797-- the ordinary gain from selling or trading in property. So that's going to create some issues.”

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