turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I purchased land this year to grow trees should i show this as a farm or business using a schedule c

I did not have income so the program wont let me use farm but I don't think I should use a schedule c either.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
PatriciaV
Expert Alumni

I purchased land this year to grow trees should i show this as a farm or business using a schedule c

Agriculture is considered farming, so you would report the activity of your tree farm on Schedule F.

If you purchased land, but have no expenses for the year, you would not report this activity on your current tax return.

But if you had expenses relating to preparing the land for planting, or buying seedlings, you would report this on Schedule F. Even if you had no income for the year, check the box for "I have income from operating a farm" at the beginning of Schedule F. You can report a loss in your first year.

The easiest way to find this area is to open your return and use the Find/Search box at the top right of the TurboTax header. Enter "farm income", then click on the "jump to farm income" link.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question