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Southwest Oklahoma | In 2006 we sold our entire livestock herd due to drought. We deferred part of the income under Section IRC 1033(e)(2) (Election to defer income from the sale of livestock due to drought, flood, or other weather-related conditions). In our 2008 return we have room to realize this deferred income. Can anyone tell me how to report this? Can I report it on Schedule F--is there a special form to fill out? | |
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Income tax question
