Tax Question on Stewardship
lwhite at unm.edu
Wed Jan 28 11:17:47 EST 1998
A couple of years ago I purchased a cow pasture (33 acres) as an
investment. At the time I was thinking I would hold the land and work
with it later after retirement, maybe build a house. Then I really
started getting into it. Now handtools, trailer, truck, chainsaw,
etc later I wondering if there is a way for me to deduct my annual
expenses for stewardship.
I am not making any money on this land, so it is not a business. So
far I am cutting overgrowth and prunning the remaining trees. This
year I will plant 100 trees. My goal is forrest stewardship and not
tree farming. Any advice?
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