The Tax Relief Act provides an incentive through 2012 that may benefit those participating at the breeding stock sales this fall. A $125,000 Expense Allowance is in place for purchase of new or used property. In the case of breeding stock sales, broodmares (both in-foal and barren) and racing prospects may qualify for the incentive as used property. Weanlings are not eligible. Click on the links below to learn more.
In 2013, the Expense Allowance is scheduled to be lowered to $25,000.
Please consult a tax professional for details on how you may be able to take advantage of these opportunities before the end of the year.