hey man, im having the exact same problem. Everyone is going to say its the carb drain but mine still does it when the drain is capped/plugged. I took the water hose to it yesterday while it was running to see if i could pinpoint where it would cut off at. Mine seems to cut out when any water gets around the choke assembly on the top of the carb. Im so frustrated with the whole thing! It sucks having a atv thats scared of a 1' puddle of water!