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Informed Discussion of Beekeeping Issues and Bee Biology

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Informed Discussion of Beekeeping Issues and Bee Biology <[log in to unmask]>
Date:
Mon, 16 Feb 2015 14:26:51 -0600
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Informed Discussion of Beekeeping Issues and Bee Biology <[log in to unmask]>
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Subject:
Re: Loss of Bees and the IRS
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From:
Charles Linder <[log in to unmask]>
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The would have to be established as a business,  you can't take a loss on a hobby,  so you would also have to be claiming income on them.   You can get away with it for 3 years,  but the IRS is expecting a profit at some point.   


3 years is the guideline for startup from hobby to business.  More than that and your red flagged for an audit.

Hives and other equipment would have to be on a amort schedule. Bees themselves are not.  They are livestock.  Not sure what schedule you have to use to claim them,  the wife does that part.




QUERY:  How do you handle the loss of a colony of bees and claiming a loss deduction with the IRS? Mike in LA

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