Tax Year Prior to 2020: Do I file a schedule c & schedule f for my farm?

masteely — Mon, 01 May 2023 20:05:43 GMT

You will only file a Schedule F. You can deduct any cost...

KarenL2 — Wed, 05 Jun 2019 18:58:36 GMT

You will only file a Schedule F. You can deduct any cost you incur that's an ordinary and necessary expense of farming on Schedule F to reduce the profit—or increase the loss—on which you'll owe taxes. Some of the expenses that farmers commonly deduct cover the cost of livestock and feed, seeds, fertilizer, wages paid to employees, interest paid during the year on farm-related loans, depreciation to recover a portion of equipment costs, utilities and insurance premiums.

Please see this link for more information What is Schedule F: Profit and Loss from Farming

topic Tax Year Prior to 2020: Do I file a schedule c &amp; schedule f for my farm? in Business & farm

Tax Year Prior to 2020: Do I file a schedule c & schedule f for my farm?

You will only file a Schedule F. You can deduct any cost...

topic Tax Year Prior to 2020: Do I file a schedule c & schedule f for my farm? in Business & farm