CRP Payments and cost share, is it all taxable?

F

Freeborn

Member
I'm definitely late in understanding this but are the payments I received to plant CRP taxable. For example I received an annual rent payment but I also received reimbursement (cost share) for prairie grass, trees, shrubs, tree tubes and matting.

Does anybody have a publication you can point me to that will clarify their tax treatment. I live in Minnesota so if you have a Federal as well as a state publication or link that would be greatly appreciated.

Thanks much!!
 
Yep you will be paying taxes on everything you get from USDA would be my guess--in fact just got my notification of how much they paid me this year--lets see at 24%--ouch--just understand if it was the lease holder doing my farming instead of uncle sam it would be a bigger OUCH :D
 
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