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[RC] Taxes again - mkrumlaw

A couple of you missed the point of my post.

My point was and is...that you can't write off expenses for a horse just 
because you have one in your back yard and win some T-shirts.

Your horse(s) must be included in a revenue generating business and that 
business must be profitable "x" number of years out of "x" number of 
years. I haven't read the current code so I'm not certain of the correct 
years.  At one point it was 1 in 7 years.

Now that being said there are some out there who meet these requirements 
and can deduct the expenses related to their horses (farms, breeders, 
trainers, ranches, boarding barns, packing, etc.).  Most of us cannot.  

Getting your tax information from Ride Camp isn't advised nor suggested.  
The actual unabridged tax code would fill a good sized book shelf.  

MKS








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