He Borrowed Against the Corn Instead of Selling It. One Tax Election Made the Loan Part of the Farm Income Social Security Counts.
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The post He Borrowed Against the Corn Instead of Selling It. One Tax Election Made the Loan Part of the Farm Income Social Security Counts. appeared first on 24/7 Wall St..
Picture a Midwestern grain farmer with bins full of corn and prices too weak to tempt him into selling. Storage is already paid for, so he pledges the crop as collateral for a USDA Commodity Credit Corporation loan and keeps the grain in the bin. Cash arrives, but no customer has bought a bushel.
Ordinarily, a loan is not inc
Picture a Midwestern grain farmer with bins full of corn and prices too weak to tempt him into selling. Storage is already paid for, so he pledges the crop as collateral for a USDA Commodity Credit Corporation loan and keeps the grain in the bin. Cash arrives, but no customer has bought a bushel.
Ordinarily, a loan is not inc
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