ISU Extension: Crop insurance may affect tax planning decisions

For farmers who were caught in the drought areas, a drop in yields plus the reduced harvest insurance price for corn and soy may trigger crop insurance payments.
It is one of the many elements to keep in mind for year-end tax planning.

Charles Brown with the Iowa State University Extension spoke with RFD-TV’s own Suzanne Alexander on tax codes when it comes to crop insurance, how insurance guarantees are determined, and what producers should keep in mind.