Yes. You will claim this on both your KY and federal return. You would enter the sale of the cow by clicking the following: Federal Income Show More next to Investment Income Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) Select Other Continue through and select Other again for the type of investment Answer that you received it as a gift You will need to enter the selling price, dates and the cost basis of the person who gave it to you. So if they paid $500 for the cow, you would enter $500.

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berryp85

Question

I sold a cow in 2024. This was the first and only sale. I don't operate a farm or have other farm income. Do I claim this sale on my taxes in KY?

Forum|Forum|1 year ago
April 8, 2025
1 reply
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Vanessa A

Yes. You will claim this on both your KY and federal return.

You would enter the sale of the cow by clicking the following:

Federal
Income
Show More next to Investment Income
Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
Select Other
Continue through and select Other again for the type of investment
Answer that you received it as a gift
You will need to enter the selling price, dates and the cost basis of the person who gave it to you. So if they paid $500 for the cow, you would enter $500.

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