Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 8:32:45 PM

Hello…I have a plant stock nursery and wonder if I should be entering farm data for it as well as entering my business income…are they mutually exclusive?

0 1 1960
1 Best answer
New Member
May 31, 2019 8:32:47 PM

If you have been using schedule C, it will work but you should be using schedule F. Do not file both (schedule C and F) unless you have two separate businesses. Nurseries use schedule F but they are both taxed the same. Asset descriptions and income and expense categories in the Farm Income section will apply best to a nursery. Example; A green house is classified as a single use structure asset and qualifies for section 179, this choice is offered only in the Farm Income and Expense section under Asset Entry and is not offered in the Business Income and Expense section.

1 Replies
New Member
May 31, 2019 8:32:47 PM

If you have been using schedule C, it will work but you should be using schedule F. Do not file both (schedule C and F) unless you have two separate businesses. Nurseries use schedule F but they are both taxed the same. Asset descriptions and income and expense categories in the Farm Income section will apply best to a nursery. Example; A green house is classified as a single use structure asset and qualifies for section 179, this choice is offered only in the Farm Income and Expense section under Asset Entry and is not offered in the Business Income and Expense section.