This Interactive resource explains and provides examples for each line of the farmer's primary tax form, IRS Schedule F, Profit or Loss from Farming. This resource is provided for educational purposes. Farmers are encouraged to consult with their individual tax professionals about specific questions relating to their operations. Other helpful resources include IRS Publication 225.
Schedule F Overview and Information Block
Who Files a Schedule F?
When Must the Schedule F be Filed?
Reviewing the Information Block
Schedule F Intro Video: Defining Farm & Farmer
Schedule F - Part I, Farm Income - Cash Method
Lines Ia, 1b, and 1c - Sales of Livestock and other Resale Items
Line 2 - Sales of Livestock, Produce, Grains, and Other Products You Raised
Line 3 - Cooperative Distributions
Lines 4a and 4b - Agricultural Program Payments
Lines 1-4 Video Walkthrough
Lines 5a, 5b, and 5c - Commodity Credit Corporation Loans
Lines 6a - 6d - Crop Insurance Proceeds and Federal Disaster Payments
Line 7 - Custom Work (Machine Hire) Income
Line 8 - Other Income
Lines 5-9 Video Walkthrough
Schedule F - Part II, Farm Expenses - Cash and Accrual Method
Line 10 - Car and Truck Expenses
Line 11 - Chemicals
Line 12 - Conservation Expenses
Line 13 - Custom Hire (Machine Work)
Lines 10-13 Video Walkthrough
Line 14 - Depreciation and Section 179 Expenses
Line 15 - Employee Benefit Programs
Line 16 - Feed
Line 17 - Fertilizers and Lime
Line 18 - Freight and Trucking
Line 19 - Gasoline, Fuel, and Oil
Line 20 - Insurance (Other than Health)
Line 21 - Interest
Lines 14-21 Video Walkthrough
Line 22 - Labor Hired
Line 23 - Pension and Profit-Sharing Plans
Line 24 - Rent or Lease
Line 25 - Repairs
Lines 22-25 Video Walkthrough
Line 26 - Seeds and Plants
Line 27 - Storage and Warehousing
Line 28 - Supplies
Line 29 - Taxes
Line 30 - Utilities
Line 31 - Veterinary, Breeding, and Medicine
Line 32 - Other Expenses
Lines 33 - 36 - Finishing Up
Lines 29-36 Video Walkthrough
The Center for Agricultural Law and Taxation is a partner of the National Agricultural Law Center (NALC) at the University of Arkansas System Division of Agriculture, which serves as the nation’s leading source of agricultural and food law research and information. This material is provided as part of that partnership and is based upon work supported by the National Agricultural Library, Agricultural Research Service, U.S. Department of Agriculture.