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Business & farm
You can deduct the cost of boarding farm workers, and that would be categorized as Labor Hired (line 22) on schedule F. You would enter that as Wages in the Common farming expenses section under Farm Expenses in TurboTax. Property, Plant and Equipment would be entered as Farm assets and TurboTax will determine the allowable depreciation deduction for them. Legal fees would be deductible as Other expenses on line 32 of Schedule F, as would travel expenses. They are entered as Other Miscellaneous expenses under Farm Expenses in the program.
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‎January 21, 2025
11:08 AM