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We are a new LLC and filing form1065 for the first time. We raise puppies, which is classified as a farming operation on Schedule F. I am wondering where to put certain expenses. For instance, in Turbotax Business Insurance appears both in the questions under Farming Expenses and Business Expenses. So do Supplies. How do we distinguish between farming expenses and business expenses?
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Enter your income and expenses from your farming operations under the Farming tab.
Enter your income and expenses from your farming operations under the Farming tab.
So our business is a farming business (Code 112900: Other Animal Production). So I should put all our expenses, even advertising, insurance, computer supplies, and so on on Schedule F?
Yes, that is where all of your income and expenses should be reported for farming operations.
I can get into Schedule F and input my income but the screen (on a MacBook Air) but can't continue further down to see expenses on the screen to enter them.
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