Question

Agricultural land tax credits

Forum|Forum|2 years ago
March 13, 2024
1 reply
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I own an acre of rural (non-homestead) property in south Texas. I have been searching for a way to maximize tax benefits, but the property is too small for most types of livestock. Are there other, creative steps I can take to help lower my taxes on this property?

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RobertB4444

You can rent it out for use to folks. If it is a rental property then anything that you do (clearing the land, upkeep, adding a fence) is deductible.

@cicilysmith

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C

cicilysmithAuthor

Hi Robert, there is no home on the property. Are there other options I can consider?

R

RobertB4444

I was thinking of renting it for ag use or hunting or something. But no - if you can't make a business out of it then the only way that it helps with your taxes is by deducting the taxes that you pay on it.

@cicilysmith

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