Disaster Related Tax Information

    Disaster Related Tax Information

    Many farmers are or have experienced severe drought conditions and/or flooding, and are in areas that have been declared a disaster area by the Secretary of Agriculture. Producers may be making decisions about selling their livestock because of these conditions.  There are special tax provisions for sales of livestock more than normal because of weather conditions. Personal and business losses may be deductible due to disasters (i.e. fire, flood, hurricane, tornado). 


    Tax Topics:

    Weather Related Sales of Livestock

    Disaster Losses and Related Tax Rules



    Disaster and Casualty Losses: Related Tax Rules

    Weather Related Sales of Livestock: Income Tax Management


    Other Resources:

    Drought Monitor https://droughtmonitor.unl.edu/ 

    The USDA-FSA website for declared disaster areas.  Information can be viewed in Excel or on a map.  https://www.fsa.usda.gov/programs-and-services/disaster-assistance-program/disaster-designation-information/index 


    All Tax Topics