Iowa Beginning Farmer Tax Credit Calculator

I created a couple worksheets in Google Docs to help calculate a comparison of the Iowa Beginning Farmer Tax Credit on a crop share basis and a cash rent basis. I wanted to share this worksheet to help others evaluate their options and make better decisions.

The main conclusion I’m seeing is that the amount of credit per acre is significantly higher with a crop share agreement than a cash rent agreement. A 50/50 crop share with a 163 yield and corn priced at $4.39 can generate about $50/acre in credit. However, cash rent of $300/acre will only generate a credit of $15/acre. Even cash rent at $500/acre will only yield a $25/acre credit.

Click Here for the worksheet (Go to File > Download As > .xlsx if you want to edit it in Microsoft Excel)

Or use the link below if you want to access it from the Google Docs Template gallery. This template link doesn’t seem to be working right in Internet Explorer. Just use the link above if you are having issues viewing this link in Internet Explorer.