What is the implication of claiming unrestricted farm income? I do have other employment income, but farming is my main activity.
So, the guide tells me to claim a restricted farm loss if farming is not my main source of income. I have a farm loss, and other self-employment income that shows a loss too. The gross revenue from farming is much higher, and that's what I consider to be my main job, however obviously I'm building both of these businesses so I'm not making any income- my husband is the breadwinner while I do this and raise the kid. I also claim rental income. Am I wrong in considering this my main income if I am financially dependent on my husband? Do I have to declare this as a restricted farm loss if I have the net income from rental income greater than my farming loss, even though my farming income before expenses is much higher?