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new rancher

I bought cows in 2019.  I am using turbo tax deluxe.  Do I need to upgrade or are the forms I need somewhere on here? I checked the farm box when I was initially setting up the profile info, but I never got any questions about the farm expenses.  Do I just make another profession line, called rancher?

Thanks in advance.

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1 Reply
LeonardS
Expert Alumni

new rancher

You will need to upgrade to at least TurboTax Premium to report income and expenses related to the purchase of your cows. 

 

From your question, it appears that you have a farming business.  TurboTax Premium has Schedule F that you will use to report your farm income and expense when preparing your tax return.

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