I have a farm that I also sell craft items at. Do ...
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johnvaughn
Level 1

I have a farm that I also sell craft items at. Do I use Schedule F for the craft expenses and income, or should that be separate from the farm income?

we make soap and bath products as well as some handmade signs/vinyl crafts. If this were to go on Schedule F, do I claims those expenses under "supplies"?
4 Replies
ColeenD3
Employee Tax Expert

I have a farm that I also sell craft items at. Do I use Schedule F for the craft expenses and income, or should that be separate from the farm income?

This seems more like Schedule C. If you did not have the farm, you would still be able to have this as a stand-alone business.

 

FARM

 

You are in the business of farming if you cultivate, operate, or manage a farm for profit, either as owner or tenant. A farm includes livestock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and orchards and groves.

 

 

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johnvaughn
Level 1

I have a farm that I also sell craft items at. Do I use Schedule F for the craft expenses and income, or should that be separate from the farm income?

Ok, so we run a CSA and sell Bedding Plants as well. Should I be filing both? Or reporting everything under Schedule C? I just want to be able to use the correct method, with the best tax benefit

johnvaughn
Level 1

I have a farm that I also sell craft items at. Do I use Schedule F for the craft expenses and income, or should that be separate from the farm income?

Ok, so we run a CSA and sell Bedding Plants as well. Should I be filing both? Or reporting everything under Schedule C? I just want to be able to use the correct method, with the best tax benefit

DianeW777
Expert Alumni

I have a farm that I also sell craft items at. Do I use Schedule F for the craft expenses and income, or should that be separate from the farm income?

I agree with @ColeenD3, and would file all of your income on Schedule C.  It's not really a farming operation and there is no cause for concern about filing Schedule C for all of your business activities.

 

The tax benefit is equally beneficial. Your income is offset by your expenses to produce that income and the net profit will be taxed the same on either schedule. 

 

 

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