We have a race horse, first year. Can we claim vet & feed bills?

Question

We have a race horse, first year. Can we claim vet & feed bills?

Answer 1

i think so

Answer 2

Yes, you can, if you claim it as a business. I have a stable, I keep it under my own name which means it's a business but I don't have to register it. And Vet, Feed, Tack and other various necessities I file under losses. However if your horse makes a profit, they can tax you as additional income.