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June 5, 2019
Question

Can I deduct the purchase price of a retired racehorse to train, and then resell?

  • June 5, 2019
  • 1 reply
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1 reply

Employee
June 5, 2019

No, you would log the racehorse as an asset (purchase price) and then depreciate the horse time. You could deduct any expenses associated with the care and training of the horse. 

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