Interactive Schedule F, Profit or Loss from Farming

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.