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Get your taxes done using TurboTax
Yes. According to the Farmers Tax Guide, "You are in the business of farming if you cultivate, operate, or manage a farm for profit, either as owner or tenant. A farm includes livestock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and orchards and groves"
So if you took over a family farm where you are breeding livestock, poultry or fish, that you are operating with the intention of making a profit, then you would be in the business of farming and your income would be reported on Schedule F.
If you have not already filed your return, then you would just need to delete the Schedule C and then select Farming instead of self-employment in the business income section. The Schedule F is to report only the farming operations. If you have another business not related to farming that would still need to be reported on Schedule C. Income reported on both Schedule C and Schedule F is subject to the 15.3% self employment tax. If you did not pay Self Employment (SE) Taxes in 2025, and if you plan to do this again in 2026, it may be a good idea to make estimated quarterly payments to avoid penalties.
If you have already filed your return, to make the changes, you would need to Amend Your Return . The amended forms are not quite ready yet, but you can use this tool to see when they become available.
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