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.
The IRS just released certain summarized income and expense information based upon taxpayers in a county or zip code for tax year 2011. This information includes the number of returns with AGI between certain dollar amounts such as 0-$25,000, over $200,000, etc. It also provides information on the components of income such as wages, interest, dividends. For interest to farmers, it provides the actual number of farm returns for each zip code, however, it does not directly indicate the amount of farm income. That number is contained in the business income information.
For example, I grew up in Dixie, Washington and moved to Walla Walla, Washington when I was in high school. Some interest information for that zip code (99362) is as follows:
Now I know that there are more than 66 farmers who live in Walla Walla, however, many of these farmers probably report their income from a partnership or corporation, therefore, they would not be included in this number.
If you are interested in seeing how your county checks out with your return, you can click here and go directly to the IRS website for this information. Years before 2011 are also included.
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