Schedule F (Form 1040), Profit or Loss From Farming
Schedule F is the farm counterpart to Schedule C: it reports a farming operation’s income and expenses for the year. Fill in the official IRS PDF below and download it.
This is the genuine IRS PDF, unmodified. Source: IRS official page.
What is Schedule F (Form 1040)?
Schedule F (Form 1040), Profit or Loss From Farming, reports income and expenses from a farming business you operate as a sole proprietor: sales of livestock, produce, grains, and other products, along with agricultural program payments, crop insurance proceeds, and custom hire income.
The expense section covers costs like feed, seed, fertilizer, chemicals, veterinary fees, fuel, repairs, labor, and depreciation. The form has sections for both cash-method and accrual-method farmers, and the net profit or loss flows to Schedule 1 and into self-employment tax on Schedule SE.
Who files Schedule F (Form 1040)?
- Sole proprietor farmers and ranchers raising crops or livestock for sale
- Operators of dairies, orchards, nurseries, and similar agricultural businesses
- Farmers receiving agricultural program payments or crop insurance proceeds
- Members of certain farming partnerships whose instructions direct farm income to Schedule F
How to fill out Schedule F (Form 1040)
- Enter your name, Social Security number, principal crop or activity, and accounting method at the top.
- Report farm income in Part I if you use the cash method, including sales, program payments, and other farm income, or use Part III for the accrual method.
- Itemize your farm expenses in Part II, from feed and seed to depreciation carried from Form 4562.
- Subtract expenses from income to find your net farm profit or loss, and carry it to Schedule 1 and Schedule SE.
- Download the finished PDF and file it with your Form 1040.
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Frequently asked questions
Should I use Schedule F or Schedule C?
Schedule F is for farming: cultivating land, raising livestock, dairies, orchards, and similar operations. Non-farm self-employment belongs on Schedule C. Some rural businesses, like boarding horses versus raising them, can be a close call, so check the instructions.
What if I rent my farmland to someone else?
Cash rent for farmland generally goes on Schedule E, not Schedule F. If you receive crop shares and do not materially participate in the farming, Form 4835 usually applies instead.
Do farm profits owe self-employment tax?
Generally yes. Net farm profit from Schedule F flows to Schedule SE, which figures Social Security and Medicare tax on the earnings. Farmers also have special estimated tax and income averaging rules worth reviewing in Publication 225.