turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ksmelton
New Member

How many years can you carry forward a conservation expense that has the 25% limit of farm income?

Schedule F line 12 has a conservation expense limit of 25% of income. how many years can you carry forward the expense?

1 Best answer

Accepted Solutions
PatriciaV
Employee Tax Expert

How many years can you carry forward a conservation expense that has the 25% limit of farm income?

You can carry the unused deduction until it is used up. However, the deduction in any later year is limited to 25% of the gross income from farming for that year as well.

See IRS Pub 225 Farmer's Tax Guide

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
PatriciaV
Employee Tax Expert

How many years can you carry forward a conservation expense that has the 25% limit of farm income?

You can carry the unused deduction until it is used up. However, the deduction in any later year is limited to 25% of the gross income from farming for that year as well.

See IRS Pub 225 Farmer's Tax Guide

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies