- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
No, there are no legal consequences if you continue to use a Schedule C to report sales from your floral products. Schedule F is especially designed to report income and expenses generally specific to farming but since you retail your floral products, Schedule C will work just fine.
It may be beneficial to switch to Schedule F because of some farm credits may be beneficial to you that are not available on a Schedule C. You may continue the depreciation schedule as is and the prior depreciation can be inputted from the depreciation Schedule form your 2022 return.
[Edited 04/01/24|7:15 am PST]
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 29, 2024
7:27 AM