1237. Is income from the sale of farm products grown in prior years included in gross farm income?

Income from the sale of farm products grown or raised in prior years is included in gross farm income, even if you stopped farming before the year in which you received the income.

If you sell grain in 1992 that was raised in 1991, the gross farm income is for 1992 even if you stopped farming in 1991.

Last Revised: March, 2001