The fir trees currently on the property are not high quality timber. There is some value but still not harvestable for another 10 years. I built a 12x20 farm office which I declare on my schedule f which is where most of my loss each year comes from. Since I'm not really doing anything with the property, I feel I should stop filing schedule F but turbo tax still wants this info.
You'll need to sign in or create an account to connect with an expert.
You can always stop filing Schedule F. If you are only claiming losses and you do not intend to make a profit, you may wish to stop filing Schedule F. However, make sure that you are not getting an exemption from property taxes for agricultural use as Schedule F would support your exemption.
You can always stop filing Schedule F. If you are only claiming losses and you do not intend to make a profit, you may wish to stop filing Schedule F. However, make sure that you are not getting an exemption from property taxes for agricultural use as Schedule F would support your exemption.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Lisa400
New Member
Loudspeaker1999
New Member
jrodd774
New Member
6c2708e6f01b
New Member
amarvin1
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.