In 2024 I started a business: a small flower farm with event-florist and garden consulting services. I have 2024 income from garden consulting which I'll report on a Schedule C. I have substantial deductions (~8k) which all fall under Schedule F (roses and peonies and longer-term floral crops), but I didn't have a resale certificate yet, so I have no Schedule F / farming income for 2024.
My intention was to treat my Schedule F deductions as regular deductions for a business whose income for 2024 was all Schedule C income, but I'm now concerned that even though the business was open and I took a few customers / made income, that because I don't have 2024 "farming income" the deductions under Schedule F might be categorized as "start-up costs" and subject to the $5000 limit plus amortization.
I'd be very grateful if someone could clarify how I should treat the expenses!