date:Oct 24, 2012
w that it is his or her normal business practice for crop income to be reported in the year following the year it was grown (i.e., sold in the following year), Marrison says in a university report. The election must cover all eligible crops from a single farming business.
If a farmer has more than one farming business, he or she must make a separate election for each farming business. The exception does not allow the taxpayer to postpone or accelerate reporting a crop loss payment if the paymen