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I purchased a bottle calf in 2016 that later died in 2016 how can I show this as a loss on my schedule F?
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I purchased a bottle calf in 2016 that later died in 2016 how can I show this as a loss on my schedule F?
You would enter the cost of the bottle calf on schedule F line 1b, then enter the sale/price of the calf received as $0 on line 1a. This will create a current year loss. Of coarse, you would enter this through your Farm Income section of TurboTax, not directly onto the form.
I have provided a link to the IRS schedule F form for you to view;
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I purchased a bottle calf in 2016 that later died in 2016 how can I show this as a loss on my schedule F?
You would enter the cost of the bottle calf on schedule F line 1b, then enter the sale/price of the calf received as $0 on line 1a. This will create a current year loss. Of coarse, you would enter this through your Farm Income section of TurboTax, not directly onto the form.
I have provided a link to the IRS schedule F form for you to view;
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