The following commentary does not necessarily reflect the views of AgWeb or Farm Journal Media. The opinions expressed below are the author's own.
Paul is now part of the fourth generation in America that is involved in farming and hopes the next generation will be involved also. Through his blog he provides analysis and insight to farmer tax questions.
We had a reader ask the following question:
Without knowing all the facts here, we can give general advice on how much crop insurance proceeds can be deferred from one year to the next. There are several rules that must be followed:
These are the general rules and will cover almost all situations, however, there are usually some anomalies out there and you always need to review this with your income tax advisor.
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