Income Tax Primer for Farmers

Cover Income Tax Primer for Farmers
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(6) Losses sustained during the taxable year on property not connected with the trade or business if arising from fires, storms, shipwrecks, or other casualty, or from theft, and if not compensated for by insurance or otherwise.
(7) Debts ascertained to be worthless and charged off within the taxable year.
(8) A reasonable allowance for the exhaustion, wear, and tear of property used in the trade or business, including a reasonable allowance- for obsolesence.
(9) In the case of mines, oil and g
...as wells, other natural "deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements according to the pecu- liar conditions in each case, based upon costs, including cost of development hot otherwise deducted.
(10) Contribntionff or gifts made within the taxable year, to corporations organized and operated exclusively for re- ligious, charitable, scientific, or educational purposes, or for the prevention of cruelty to children or animals, no part of the net eami-igs of which inures to the benefit of any private 18 INCOME TAX PKIMER TOE FAEMEBS.


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