Can you write off Bee loses from the winter

[MaggieShields]

I'm trying to help my father do taxes and was wondering if he could write off his bees loses from Winter. What would he need to do this?

[NCSUbeeKEEPER]

Beekeeping loses can only be written off against beekeeping revenues if he is just a hobby apiarist. Since most people don't claim beekeeping revenues on their taxes this is pretty useless.

If his expenses exceed his revenues he can only claim a loss if his beekeeping operation is a registered business, in which case he would report the loss on form Schedule C.

[MaggieShields]

No he lost about 120 hives, how do you use it as a write off. How do we know how much to write off. If you lost 120 hives, how much would that be? My Dad saying it's 130.00 per hive, but I'm not sure if he really knows. Please help me. Thanks Maggie

[Tom G. Laury]

According to my CPA, there is nothing there to write off. You can write off your cash expenses, but not your opinion of what something was worth that you lost.

Please refrain from asking me how I know that.

[MaggieShields]

Tom, what kind of cash expenses are you talking about?

[Solomon Parker]

Withdrawn

[waynesgarden]

Dad is trying to write off $15,600 as losses. I'm no accountant but to me, what that adds up to is Dad needs to talk to an accountant, not beekeepers on a forum.

His accountant will appear with him when he gets audited. (Not sure who from this crew would go with him.)

Wayne

[NCSUbeeKEEPER]

I would advise you to consult a tax professional to assess your specific situation.

[MaggieShields]

He is planning on going to a CPA, just wanted to know ahead of time. Someone told him he might be able to write them off, but I read otherwise on this forum. I guess his CPA will tell him for sure.

[MaggieShields]

HI WaynesGarden

No, he's not trying to write it off, we are just wondering if he can. I wasn't sure so I thought I'd ask you guys before we go to the CPA. Oh, went it comes to Audits my father is no stanger. Thanks why I'm her to help him from now on. But, Thank you Wayne.

[sqkcrk]

No he lost about 120 hives, how do you use it as a write off.

Maggie, just to be picky and make sure we are talking about the same thing, he didn't loose the hives, did he? The colony in those hives died, right? He still has the hives.

What can be written off, on a Schedule F : Profit or Loss from Farming Form, is the cost of package bees or queens purchased. Thery are considered Livestock.

If your Father doesn't fill out a Schedule F I don't know how he can claim a loss. If it isn't a Business for him, it is considered a Hobby.

Talk to an Accountant who knows something about Farming.

[wdcrkapry205]

If your father is selling honey you better believe the govt. wants to know about it, and with 120 hives I sure hope at one point he had some for sale. If a cattle farmer looses 120 brood cows over the winter can he claim a lose for that? For his sake I certainly hope so, but I really don't know. I agree with Sqkcrk, I would certainly try. That is if you have been reporting your honey sales.

[sqkcrk]

I'll bet a cattle farmer can't write off dead cattle. Not ones that died on his farm from diseases or pests. Besides, aren't cattle supposed to die, in trhe end? All the other costs, I imagine, are deductible.

I am not an Accountant. Get ye to an Accountant.