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If you are in the business of owning farmland and farming operations, you must file your federal taxes by using Schedule F on your federal income tax return. Your sales and expenses will go in Part I and Part II on schedule F.
Please note that TurboTax Deluxe does not support Schedule F, you will need to upgrade to TurboTax Self Employed or TurboTax Live if you prefer online products. Please see below for instructions to find Schedule F.
If your business is an Agricultural or Horticultural Organization
Your income and expenses go on part 1 of form 990.
Your Ag (agricultural) timber exemption relates to a tax-exempt organization, and the IRS requires you to file form 990. This form is not available in TurboTax products, but you can find it on the IRS website, along with instructions by following this link.
Please see additional information on the life cycle of an Agricultural or Horticultural Organization here.
Follow these steps to find schedule F on TurboTax:
TurboTax Online
TurboTax Desktop
[ EDITED 1/11/2018 | 6 pm EST]
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