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1099 Reporting for Livestock Purchases From Farmers and Ranchers
January 7, 2026
Q. Is the purchase of livestock for our University's farm (such as the purchase of a horse or cow) 1099 reportable? If so, what type of 1099 reporting would be required? The purchases are from individuals (ranchers/farmers).
A.
(Answered by IOFM's third-party tax expert)
This would not be reportable. The taxation (to the farmer/rancher) depends on their basis in the livestock, which you would not know, so it's not "fixed and determinable" according to section 6041.
122550
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