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This version of the form is not currently in use and is provided for reference only. Download this version of
IRS Form 1040 (1040-SR) Schedule F
for the current year.
IRS Form 1040 (1040-SR) Schedule F Profit or Loss From Farming
What Is IRS Form 1040 (1040-SR) Schedule F?
This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 1040, and IRS Form 1040-SR. Check the official IRS-issued instructions before completing and submitting the form.
FAQ
Q: What is IRS Form 1040?
A: IRS Form 1040 is the individual income tax return form used by most US residents.
Q: What is IRS Form 1040-SR?
A: IRS Form 1040-SR is a simplified version of Form 1040 specifically designed for seniors.
Q: What is Schedule F?
A: Schedule F is a tax form used to report profit or loss from farming activities.
Q: Who should file Schedule F?
A: Farmers who have income or loss from farming activities should file Schedule F.
Q: What types of farming activities are included on Schedule F?
A: Schedule F includes activities such as raising livestock, growing crops, and operating a dairy farm.
Q: What expenses can be deducted on Schedule F?
A: Expenses related to farming operations, such as feed, seed, fuel, and equipment maintenance, can be deducted on Schedule F.
Q: What happens if there is a profit on Schedule F?
A: If there is a profit on Schedule F, it is included as taxable income on the taxpayer's Form 1040 or 1040-SR.
Q: What happens if there is a loss on Schedule F?
A: If there is a loss on Schedule F, it can be used to offset other income on the taxpayer's Form 1040 or 1040-SR.
Form Details:
- A 2-page form available for download in PDF;
- This form cannot be used to file taxes for the current year. Choose a more recent version to file for the current tax year;
- Editable, printable, and free;
- Fill out the form in our online filing application.
Download a fillable version of IRS Form 1040 (1040-SR) Schedule F through the link below or browse more documents in our library of IRS Forms.
Download IRS Form 1040 (1040-SR) Schedule F Profit or Loss From Farming
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