Hello,
I setup an indoor vertical farming business last year (2022) and am trying to find the correct classification in Turbo Tax to list expenses. The first year of the business (2022) was spent establishing operations and only had expenses, this second year (2023) I have now started generating revenue.
Question #1: Is this considered a "Farm" if I am not doing traditional field operations
Question #2: If yes, would all the expenses/income be listed under the "Farm Income and Expenses" section? If not, where would I enter the information.
Observation:
The Business Codes for the non-farm Business setups do not correctly identify my operation so I am at a loss for next steps.
