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SCHEDULE F Department of the Treasury Internal Revenue Service |
Profit or Loss From FarmingAttach to Form 1040, 1040-SR, 1040-SS, 1040-NR, 1041, or 1065. Go to www.irs.gov/ScheduleF Go to for instructions and the latest information. |
OMB No. 1545-0074 2024Attachment Sequence No.14 |
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Name of proprietor |
Social security number (SSN) |
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A Principal crop or activity |
B Enter code from Part IV |
C Accounting method:
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D Employer ID number (EIN) (see instr.) |
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E Did you “materially participate” in the operation of this business during 2024? If “No,” see instructions for limit on passive losses
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F Did you make any payments in 2024 that would require you to file Form(s) 1099? See instructions . . . . . . . . . . .
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G If “Yes,” did you or will you file required Form(s) 1099?. . . . . . . . . . . . . . . . . . . . . . . . . .
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Part I
Farm Income—Cash Method. Complete Parts I and II. (Accrual method. Complete Parts II and III, and Part I, line 9.) |
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| 1a | Sales of purchased livestock and other resale items (see instructions) . . . . . |
1a | ||||||||
| b | Cost or other basis of purchased livestock or other items reported on line 1a . . . |
1b | ||||||||
| c | Subtract line 1b from line 1a . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
1c | ||||||||
| 2 | Sales of livestock, produce, grains, and other products you raised . . . . . . . . . . . . . . |
2 | ||||||||
| 3a |
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3b | ||||||||
| 4a |
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4b | ||||||||
| 5a | Commodity Credit Corporation (CCC) loans reported under election . . . . . . . . . . . . . |
5a | ||||||||
| b |
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5c | ||||||||
| 6 | Crop insurance proceeds and federal crop disaster payments (see instructions): |
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| a |
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6b | ||||||||
| c |
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6d | ||||||||
| 7 | Custom hire (machine work) income . . . . . . . . . . . . . . . . . . . . . . . . . |
7 | ||||||||
| 8 | Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) . . . . |
8 | ||||||||
| 9 | Gross income. Add amounts in the right column (lines 1c, 2, 3b, 4b, 5a, 5c, 6b, 6d, 7, and 8). If you use the accrual method, enter the amount from Part III, line 50. See instructions . . . . . . . . . . . |
9 | ||||||||
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Part II
Farm Expenses—Cash and Accrual Method. Do not include personal or living expenses. See instructions. |
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| 10 | Car and truck expenses (see |
10 | 23 | Pension and profit-sharing plans . |
23 | ||
instructions). Also attach Form 4562 |
24 | Rent or lease (see instructions): |
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| 11 | Chemicals . . . . . . . . . |
11 | a | Vehicles, machinery, equipment . |
24a | ||
| 12 | Conservation expenses (see instructions) |
12 | b | Other (land, animals, etc.) . . . |
24b | ||
| 13 | Custom hire (machine work) . . |
13 | 25 | Repairs and maintenance . . . |
25 | ||
| 14 | Depreciation and section 179 expense |
14 | 26 | Seeds and plants . . . . . . |
26 | ||
(see instructions) . . . . . . |
27 | Storage and warehousing . . . |
27 | ||||
| 15 | Employee benefit programs other than |
15 | 28 | Supplies . . . . . . . . . |
28 | ||
on line 23 . . . . . . . . . |
29 | Taxes . . . . . . . . . . |
29 | ||||
| 16 | Feed . . . . . . . . . . . |
16 | 30 | Utilities . . . . . . . . . . |
30 | ||
| 17 | Fertilizers and lime . . . . . . |
17 | 31 | Veterinary, breeding, and medicine |
31 | ||
| 18 | Freight and trucking . . . . . |
18 | 32 | Other expenses (specify): |
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| 19 | Gasoline, fuel, and oil . . . . . |
19 | a | 32a | |||
| 20 | Insurance (other than health) . . |
20 | b | 32b | |||
| 21 | Interest (see instructions): |
c | 32c | ||||
| a | Mortgage (paid to banks, etc.) . . |
21a | d | 32d | |||
| b | Other . . . . . . . . . . . |
21b | e | 32e | |||
| 22 | Labor hired (less employment credits) |
22 | f | 32f | |||
| 33 | Total expenses. Add lines 10 through 32f. If line 32f is negative, see instructions . . . . . . . . |
33 | |||||
| 34 | Net farm profit or (loss). Subtract line 33 from line 9 . . . . . . . . . . . . . . . . . . |
34 | |||||
If a profit, stop here and see instructions for where to report. If a loss, complete line 36. |
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| 35 | Reserved for future use. |
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| 36 | Check the box that describes your investment in this activity and see instructions for where to report your loss: |
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| a |
b
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Part III
Farm Income—Accrual Method (see instructions) |
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| 37 | |||||||||||||||||||||||||||||||
| 37 | Sales of livestock, produce, grains, and other products (see instructions) . . . . . . . . . . . . |
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| 38b | |||||||||||||||||||||||||||||||
| 38a | Cooperative distributions (Form(s) 1099-PATR) . |
38a | 38b | Taxable amount . . |
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| 39b | |||||||||||||||||||||||||||||||
| 39a | Agricultural program payments . . . . . . . |
39a | 39b | Taxable amount . . |
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| 40 | Commodity Credit Corporation (CCC) loans: |
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| a | CCC loans reported under election . . . . . . . . . . . . . . . . . . . . . . . . . . |
40a | |||||||||||||||||||||||||||||
| 40c | |||||||||||||||||||||||||||||||
| b | CCC loans forfeited . . . . . . . . . . . |
40b | 40c | Taxable amount . . |
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| 41 | |||||||||||||||||||||||||||||||
| 41 | Crop insurance proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . |
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| 42 | |||||||||||||||||||||||||||||||
| 42 | Custom hire (machine work) income . . . . . . . . . . . . . . . . . . . . . . . . . |
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| 43 | Other income (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . |
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| 44 | |||||||||||||||||||||||||||||||
| 44 | Add amounts in the right column for lines 37 through 43 (lines 37, 38b, 39b, 40a, 40c, 41, 42, and 43) . . |
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| 49 | Cost of livestock, produce, grains, and other products sold. Subtract line 48 from line 47* . . . . . . . |
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| 50 | |||||||||||||||||||||||||||||||
| 50 | Gross income. Subtract line 49 from line 44. Enter the result here and on Part I, line 9 . . . . . . . |
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*If you use the unit-livestock-price method or the farm-price method of valuing inventory and the amount on line 48 is larger than the amount on line 47, subtract line 47 from line 48. Enter the result on line 49. Add lines 44 and 49. Enter the total on line 50 and on Part I, line 9. |
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Part IV
Principal Agricultural Activity Codes |
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Do not file Schedule F (Form 1040) to report the following.
• Income from providing agricultural services such as soil preparation, veterinary, farm labor, horticultural services if your principal source of income is from providing such services. Instead, see the Instructions for Schedule C (Form 1040). • Income from breeding, raising, or caring for dogs, cats, or other pet animals. Instead, see the Instructions for Schedule C (Form 1040). • Income from managing a farm for a fee or on a contract basis. Instead, see the Instructions for Schedule C (Form 1040). • Sales of livestock held for draft, breeding, sport, or dairy purposes. Instead, see the Instructions for Form 4797. These codes for the Principal Agricultural Activity classify farms by their primary activity to facilitate the administration of the Internal Revenue Code. These six-digit codes are based on the North American Industry Classification System (NAICS). Select the code that best identifies your primary farming activity and enter the six-digit number on line B. Crop Production111100 Oilseed and grain farming 111210 Vegetable and melon farming |
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