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Reporting payment for livestock rental

January 2, 2023
January 2, 2023

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Q. How do we report a bull rental? Is it services or rental? The bull was used to inseminate at our farm. A. (Answered by IOFM's third-party tax experts) Determine this by identifying whether the university, or the owner of the animal, was in charge of the insemination procedure on-site at the university.  If employees of the university (or students under their supervision) performed the technique, treat the payment as a rental of the animal reported on Form 1099-MISC box 1.  But if the owner…

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