Cattlerancher
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When you say you have a small business with income and expenses, this is the definition of self employment. The only online version that will support self emplo...
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As a farm business you only need to file a schedule F, not both.
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Well done answer, this is done often in the farming community----
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Safety deposit box rental fees are deductible under Retirement and Investments, Other Investment Expenses.View the page snip below;
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This should be better defined in TurboTax; (Edited 4-10-17) New Asset means "The original use of the property must begin with you". (brand new)
Activity Feed for Cattlerancher
- Got Cheered for Generally, farm buildings are depreciated over a 20 year.... October 16, 2022 3:06 PM
- Got Cheered for Sorry but no, you cannot claim rental expenses or depreci.... April 16, 2022 2:30 PM
- Got Cheered for Yes. If the payment you receive is a monetary (cash) paym.... May 16, 2021 7:24 PM
- Got Cheered for If you don't operate a farm and you have not in previous.... February 26, 2021 8:11 PM
- Got Cheered for From what you have said, it sounds like you have taken th.... February 10, 2021 8:44 AM
- Got Cheered for Ouch! That's what I call a wreck on our place. If you are.... February 7, 2021 12:19 PM
- Got Cheered for Sure. You will take each asset and divide it's cost basis.... May 27, 2020 6:15 AM
- Got Cheered for I don't know what version of TurboTax you are using to gu.... May 5, 2020 2:22 PM
- Got Cheered for It appears you are using TurboTax Premier desktop/CD. If.... April 18, 2020 9:06 AM
- Got Cheered for Farm land rented for cash goes directly onto schedule E..... March 14, 2020 2:31 PM
- Got Cheered for Yes. There are two different ways to enter your 1099-misc.... March 6, 2020 5:44 AM
- Posted When you say you have a small business with income and ex... on Deductions & credits. June 7, 2019 4:17 PM
- Posted As a farm business you only need to file a schedule F, no... on Business & farm. June 7, 2019 3:36 PM
- Posted Well done answer, this is done often in the farming commu... on Get your taxes done using TurboTax. June 7, 2019 3:34 PM
- Posted Safety deposit box rental fees are deductible under Retir... on After you file. June 7, 2019 3:02 PM
- Posted This should be better defined in TurboTax; (Edited 4-10-1... on Business & farm. June 7, 2019 3:01 PM
- Posted No, you do not need an EIN unless you hire employees. Ple... on Investors & landlords. June 6, 2019 7:07 AM
- Posted How you enter the purchase of this calf depends on why yo... on Get your taxes done using TurboTax. June 6, 2019 6:40 AM
- Posted If you maintain an orchard, nut trees or operate a greenh... on Investors & landlords. June 6, 2019 6:33 AM
- Posted Texas Roger has it correct with one exception. Date of de... on Get your taxes done using TurboTax. June 6, 2019 6:19 AM