How do I fill out Schedule F if I have a small horse boarding business? Also, can I count new fencing and a tractor as expenses for my business?

[CathiM]

Yes, you can use the new fencing and a tractor but those are considered Assets.  Assets can be depreciated and you may be able to use Section 179  depreciation and get a bigger deduction for 2017 (see below to set up assets).

To fill out Schedule F: 

1. Under the tab Income and Expenses, click on the button Start next to Self-Employment income and expenses
2. TurboTax will guide you through some questions to set up your business, add your income and expenses.  
3. Under Work Industry in the set up, you can choose Animal Farm Services or Animal Production and Breeding (if you are also breeding). 

Under the Expenses section, scroll down to the bottom to Less Common Expenses and click on the arrow.  Choose Assets for your new fence and tractor.  Because of the new tax rules, the Depreciation Interview is not set up yet in TurboTax. Please check here using this link for updates on when forms will be ready. You need Form 4562 for depreciation: https://ttlc.intuit.com/replies/3299968