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Materially Participate on a Farm
Hi, we have Farm Income/Expenses & have answered the questions that determine we do not materially participate. In prior years we have had a profit and this is shown on the summary pages, this year we have a loss and under the Farm Profit/Loss it shows $0. Why do the Losses not count? If I answer to say we did Materially Participate it then shows the loss amount and our return is larger.
When it asks the number of hours worked and we file jointly is that our joint hours worked?
Thanks!
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‎June 1, 2019
8:23 AM