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Glossary Definition

What is a Schedule F?

Schedule F of the individual form 1040 is used to report income or loss from farming or other agricultural ventures. It is included with the form 1040 and sometimes with a 1065 or 1041. If farm property is rented, that must be reported on Schedule E. It is also typically used with Schedule J, which allows you to average your farm income over three years to determine your tax.

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Tax Planning Strategies

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