Quote Originally Posted by Frank S View Post
They do it all the time depreciation of structures , vehicles and equipment, insurance deductions, vet bills fuel and feed expenses, loss of time and wages when a show is cancelled. loss of revenue when a horse loses a race. the list goes on forever.
You can even get the government to pay you to adopt wild mustangs all you have to do is keep them for a few years.
But then again some ranchers take advantage of the mustang adoption program and get some fine ranch animals out of a few of them.
Okay, so you have to at least pretend to be a business. So some random person, with a horse that's essentially a pet, can't get a tax break.