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Informed Discussion of Beekeeping Issues and Bee Biology

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Subject:
Re: IRS Question
From:
Ted Fischer <[log in to unmask]>
Reply To:
[log in to unmask]
Date:
Wed, 10 Sep 1997 10:21:50 +0000
Content-Type:
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Brett D Bannon wrote:
>
> At what point does all the dollars that I spend having so much fun
> raising honey bees turn into a potential deduction on a Business Form for
> my yearly taxes.  Heaven forbid that this be a newbee question!
>
You need to make a profit in 3 of every 5 years for the IRS to
consider it a business and not just a hobby.  You also should keep
careful records to document all expenses and income.  Then file
schedule F with your tax return.
 
Ted Fischer
Dexter, Michigan USA

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