Reply #2: AGI is mostly after deductions for things like IRA contributions, alimony paid [View All]

[BR_Parkway]

(can't imagine a politician who didn't want that one tossed in there) and credit for self employed contributions to SEPs and Social Security

That initial 250K is going to be reported much higher on line 18, Schedule F Farm Income - which already deducts all those expenses of running the farm, costs of seed, fertilizer, tractors, etc...

So basically, the profit is the 250K figure - this isn't about the small subsistence farmer barely eeking by - this is about folks like Michelle Bachmann getting farm subsidies in spite of all the other income she has (or her typical Tea Party stance of all government checks that don't go to me are wasteful spending)