Im trying to finish my Turbo Tax but need to add income on schedule F....HELP

[NicoleU · Accepted solution]

You will need to file a schedule F for Farm Income in order to claim costs or expenses for livestock. You will need TurboTax Home & Business for schedule F if you are using TurboTax Online. Schedule F IS ,however, included with Desktop (CD/Download) TurboTax versions Deluxe or higher.

Using the appropriate TurboTax as indicated above, please do the following to navigate directly to the area to enter your livestock expenses:

Using Desktop Deluxe or Premier TurboTax: 

Federal Taxes< Wages & Income< "I'll Choose What I work on"< scroll down to the category titled, Farm Income and Farm rentals under Business Expenses (as pictured in first screenshot, attached)

Using TurboTax Home & Business (desktop or online):

Business< Business Income & Expenses<"I'll Choose What I work on" or "Jump to a Full List"< scroll down to the category titled, "Farm Income and Expenses" under Farm Income and Expenses.

You will proceed through the interview questions that TurboTax asks about your farm, and eventually you will arrive at the page that states, "Enter Income" ( as shown in screenshot 2). 

On this page, where it says "cost of items bought for resale" you will enter the cost of livestock. Livestock is considered a Cost of Goods sold. 

This will flow to your schedule F differently than other "expenses". Please see screenshot 3 for an example of where on the schedule F this information goes. Note that you can view this in your own return by going to 'Forms' and viewing schedule F.

[maryj1113]

I am trying to add Sales From Products on my Schedule F and it is blocked out in blue and it will not let me add my income. What do I do next?

[DianeC958]

Try deleting the form according to these instructions

Here's the general procedure for viewing the forms list and deleting unwanted forms, schedules, and worksheets in TurboTax Online:

1. Open or continue your return in TurboTax.
2. In the left menu, select Tax Tools and then Tools.
3. In the pop-up window Tool Center, choose Delete a form.
4. Select Delete next to the form/schedule/worksheet in the list and follow the instructions.

Once you have deleted the form the begin the section again.

@maryj1113

[Farmer5]

TurboTax 2021 will not allow changes to schedule f lines 10 through 34

[DawnC]

Try saving your return, closing out the desktop program and restarting it.   I was able to enter expenses from the interview section and also directly on Schedule F.     From the interview, you can click on Edit next to your Farm Name and click through until you come to the expenses section, image attached.     You should be able to enter the same information directly on the Schedule F in Form Mode.  

@Farmer5