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

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

I have a farm and sell my products directly at farmers markets via my personal business. My business income and farm income are the same thing. Where do I report it?

Some expenses are directly related to farmers marketing, which I recorded under "business", but others to farm operation (seed, compost, etc).  If income is same, but expenses differ, how do I keep from double reporting a single income?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

I have a farm and sell my products directly at farmers markets via my personal business. My business income and farm income are the same thing. Where do I report it?

If you grow/raise farm products you should file a schedule F only. No schedule C. Even if you sell at a farmers market. Schedule C and F are taxed at the same rate. If some of your income or expenses do not fit the preselected farm categories, you can always use "Other Income" or "Other Miscellaneous Expenses" and describe it yourself in the farm income and expense section. Keep it simple, file one schedule F. You might also consider switching to TurboTax H&B, the desktop CD version. It has several features and advantages the online version just does not have. If you buy it early in the tax season at Costco or Amazon, it's cheaper too.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question