Bushels for kids


Grain for kids

A gift of grain to Joy Ranch of SD provides positive tax results for the donor. Gifting grain generally results in a lower adjusted gross income for the donor because the sale of the gifted grain will not be reported as income on the donor's income tax return. Reduced taxable income can potentially lessen the amount of income tax and self-employment tax owed by the donor.

Call or email, we can lead you through it. Here is what you need to know as a farmer looking to make a charitable gift of grain:

  • In lieu of gifting cash to Joy Ranch of SD, consider contacting your local coop or grain handler and transfer bushels of grain from your name to Joy Ranch of SD
  • Ask the coop or grain handler to provide a warehouse receipt to Joy Ranch of SD
  • Inform Joy Ranch of SD that you have gifted grain, and provide them contact information to the coop or grain handler so they can call and sell the grain. The potential tax savings for a farmer who gifts grain includes the following:
  • The cash basis farmer can exclude the sale of the grain from taxable income
  • Federal income tax savings (up to 37%)
  • Self-employment tax savings (15.3%)

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