topic Can losses from a farm be used to offset W2 income in the same year? Where one spouse farms FT (no other job) and the other spouse farms and collects a W2 from a &quot;day job&quot;? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/can-losses-from-a-farm-be-used-to-offset-w2-income-in-the-same-year-where-one-spouse-farms-ft-no/01/3527410#M119027 Fri, 28 Feb 2025 21:28:29 GMT Brian99 2025-02-28T21:28:29Z Can losses from a farm be used to offset W2 income in the same year? Where one spouse farms FT (no other job) and the other spouse farms and collects a W2 from a "day job"? https://ttlc.intuit.com/community/business-taxes/discussion/can-losses-from-a-farm-be-used-to-offset-w2-income-in-the-same-year-where-one-spouse-farms-ft-no/01/3527410#M119027 Fri, 28 Feb 2025 21:28:29 GMT https://ttlc.intuit.com/community/business-taxes/discussion/can-losses-from-a-farm-be-used-to-offset-w2-income-in-the-same-year-where-one-spouse-farms-ft-no/01/3527410#M119027 Brian99 2025-02-28T21:28:29Z Re: Can losses from a farm be used to offset W2 income in the same year? Where one spouse farms F... https://ttlc.intuit.com/community/business-taxes/discussion/re-can-losses-from-a-farm-be-used-to-offset-w2-income-in-the-same-year-where-one-spouse-farms-f/01/3527644#M119040 <P>Yes. &nbsp;If the farm is a genuine business and attempt to earn income but still operates at a loss then the loss from the farm will carry over onto your 1040 as a negative number to offset any other income that you have there.</P> <P>&nbsp;</P> <P><SPAN style="background: var(--ck-color-mention-background); color: var(--ck-color-mention-text);"><a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/2929793">@Brian99</a></SPAN>&nbsp;</P> Fri, 28 Feb 2025 22:33:18 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-can-losses-from-a-farm-be-used-to-offset-w2-income-in-the-same-year-where-one-spouse-farms-f/01/3527644#M119040 RobertB4444 2025-02-28T22:33:18Z