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Published September 19, 2009, 12:00 AM

Planning for taxes needed for crop insurance payments

ST. PAUL — With the probability of crop losses due to weather, farmers may be receiving crop insurance indemnity payments. Any crop insurance proceeds you receive need to be included as income on your tax return. You generally include that income in the year received.

By: C. Robert Holcomb and Gary A. Hachfeld, U of M Extension, West Central Tribune

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