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| Take the deduction and quit complaining. You will only hurt yourself in the end. Is making a few extra phone calls to deduct $200,000 really that big of a deal. Starting to think there are a few farmers who have been thinking they didn't need to report income from the ethanol plants and Bunge/ADM. Hope you all realize this deduction was to help offset the giant tax increase farmers just received on property tax basis on equipment. If your in Nebraska, it doubled. If 199a is phased out than the average Nebraska farmer just got one hell of another property tax increase. $150,000 trade difference on a new combine for basis just went to $400,000. Let that sink in. | |
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199A
