LinaJ2020
Expert Alumni

Business & farm

It depends.  Per IRS, only farmers who operate as a business are required to file Schedule F. To be considered a business, you must be engaged in farming for profit. This means that you've made money in at least three of the last five tax years, or two out of seven years for breeding or raising horses.

 

For more information, click here:

https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-schedule-f-profit-or-loss-from-far...

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