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Hooker Twp,Ne | Did my pre income tax planning yesterday with accountant. Found out something I didn’t know. Guess if you do deferred payment contracts and are in position to have loss ( mainly do to depreciation) you can take one, two,three,etc of those contracts and apply them in the year you signed the contract. Always thought had to apply them the year I recieved the funds. You can not split a contract so it’s best to have several different contracts. Checked A.I. and recieved same answer. Check with your tax accountant.
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Deferred payment contracts
