Is form T2042 used in Turbotax for my farm income?

[richard62tt]

I have farm income mainly, I would like to know what Turbotax  package will handle it best. Will the package have T2042 form?

[TurboTaxSusan · Accepted solution]

Yes, you would use form T2042 Statement of Farming Activities, for your farming income & expenses. It’s available in all version TurboTax 2017, however TurboTax Fee doesn’t include the forms for AgriStability and AgriInvest, so if you need those, you will need to use at least Standard. We would recommend using TurboTax Self-Employed/Home & Business, as it will provide you with more guidance, so you may find it easier to use.

Here is the product page for TurboTax Online: https://turbotax.intuit.ca/personal-tax-software/online-tax-software.jsp

Here is the product page for TurboTax CD/Download: https://turbotax.intuit.ca/personal-tax-software/download-tax-software.jsp