Schedule F (Form 1 Profit or Loss from Farming

Profit or Loss From Farming

SCHEDULE F
(Form 1040)
▶

Department of the Treasury
Internal Revenue Service (99)

OMB No. 1545-0074

2010

Attach to Form 1040, Form 1040NR, Form 1041, Form 1065, or Form 1065-B.
▶ See Instructions for Schedule F (Form 1040).

Attachment
Sequence No.

14

Name of proprietor

Social security number (SSN)

A Principal product. Describe in one or two words your principal crop or activity for the current tax year.

B Enter code from Part IV
▶

D Employer ID number (EIN), if any
Accrual
C Accounting method:
(1)
(2)
Cash
E Did you “materially participate” in the operation of this business during 2010? If “No,” see instructions for limit on passive losses.

Part I

Sales of livestock and other items you bought for resale
. . .
Cost or other basis of livestock and other items reported on line 1

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3
4
5a
6a

Subtract line 2 from line 1 . . . . . . . . . . . .
Sales of livestock, produce, grains, and other products you raised
5a
Cooperative distributions (Form(s) 1099-PATR) . .
Agricultural program payments (see instructions)
6a

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7

Commodity Credit Corporation (CCC) loans (see instructions):
CCC loans reported under election . . . . . . . . .
CCC loans forfeited . . . . . . . . .
7b

8
a
c
9
10
11

4
5b
6b

.

. . . . .
Taxable amount

7a
7c

Crop insurance proceeds and federal crop disaster payments (see instructions):
Amount received in 2010
. . . . . . .
8a
8b Taxable amount
If election to defer to 2011 is attached, check here ▶
8d Amount deferred from 2009

8b
8d

Custom hire (machine work) income

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5b
6b

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7c

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Other income, including federal and state gasoline or fuel tax credit or refund (see instructions)

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9
10

Gross income. Add amounts in the right column for lines 3 through 10. If you use the accrual method to
figure your income, enter the amount from Part III, line 51 . . . . . . . . . . . . . . ▶

11

Farm Expenses—Cash and Accrual Method.
Do not include personal or living expenses such as taxes, insurance, or repairs on your home.

Car and truck expenses (see
instructions). Also attach Form 4562

Chemicals . . . . . .
Conservation expenses (see instructions)

15

Custom hire (machine work) .

16

Depreciation and section 179
expense deduction not claimed
elsewhere (see instructions) .

17

Employee benefit programs other
than on line 25 . . . . .

18

Feed

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19
20

Fertilizers and lime
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Freight and trucking .

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21
22
23
a

Gasoline, fuel, and oil . . .
Insurance (other than health)
Interest:
Mortgage (paid to banks, etc.)

b

Other

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12
13

25

Pension and profit-sharing plans

26

Rent or lease (see instructions):

16
17
18
19
20
21
22
23a
23b
24

Vehicles, machinery, and
equipment . . . . .

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b

Other (land, animals, etc.)

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26a
26b

27
28
29

Repairs and maintenance
Seeds and plants . . .
Storage and warehousing

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27
28
29

30
31
32

Supplies
Taxes .
Utilities .

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30
31
32

33
34

Veterinary, breeding, and medicine

33

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Other expenses (specify):
a
b
c

34a
34b
34c
34d

d
e

f
Total expenses. Add lines 12 through 34f. If line 34f is negative, see instructions . .
Net farm profit or (loss). Subtract line 35 from line 11. Partnerships, see instructions.

Labor hired (less employment credits)

34e
34f
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If you have a loss, you must check the box that describes your investment in this activity and whether you
received any applicable subsidy (see instructions).

• If you checked 37a, enter the loss on both Form 1040, line 18, and Schedule SE, line 1a; on Form
1040NR, line 19; or on Form 1041, line 6.
• If you checked 37b, your loss may be limited. See instructions.
For Paperwork Reduction Act Notice, see your tax return instructions.

25

a

14
15

• If a profit, enter the profit on both Form 1040, line 18, and Schedule SE, line
1a; on Form 1040NR, line 19; or on Form 1041, line 6.
• If a loss, you must go to line 37.
37

3

. . . . .
. . . . .
Taxable amount
Taxable amount

13
14

24
35
36

1
2
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Part II
12

No

Farm Income—Cash Method. Complete Parts I and II (Accrual method. Complete Parts II and III, and Part I, line 11.) Do
not include sales of livestock held for draft, breeding, sport, or dairy purposes. Report these sales on Form 4797.

1
2

a
b

Yes

Cat. No. 11346H

.

▶

}

}

35

36

37a

All investment is at risk and
you did not receive a subsidy.

37b

Some investment is not at risk
or you received a subsidy.

Schedule F (Form 1040) 2010

Page 2

Schedule F (Form 1040) 2010

Part III

Farm Income—Accrual Method (see instructions).
Do not include sales of livestock held for draft, breeding, sport, or dairy purposes. Report these sales on Form 4797 and
do not include this livestock on line 46 below.
38

38

Sales of livestock, produce, grains, and other products .

39a

Cooperative distributions (Form(s) 1099-PATR) .

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39a

39b Taxable amount

39b

40a

Agricultural program payments .

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40a

40b Taxable amount

40b

41
a

Commodity Credit Corporation (CCC) loans:
CCC loans reported under election . . . .

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b

CCC loans forfeited

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41a

41c Taxable amount

41c

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41b

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42

Crop insurance proceeds

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42

43

Custom hire (machine work) income

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43

44

Other income, including federal and state gasoline or fuel tax credit or refund

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44

45

Add amounts in the right column for lines 38 through 44

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45

46

Inventory of livestock, produce, grains, and other products at beginning of
the year . . . . . . . . . . . . . . . . . . . . .

46

47

Cost of livestock, produce, grains, and other products purchased during the
year . . . . . . . . . . . . . . . . . . . . . .

47

48

Add lines 46 and 47

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48

49

Inventory of livestock, produce, grains, and other products at end of year

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49

50

Cost of livestock, produce, grains, and other products sold. Subtract line 49 from line 48*

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50

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51
51
Gross income. Subtract line 50 from line 45. Enter the result here and on Part I, line 11 . . . . . ▶
*If you use the unit-livestock-price method or the farm-price method of valuing inventory and the amount on line 49 is larger than the amount on line
48, subtract line 48 from line 49. Enter the result on line 50. Add lines 45 and 50. Enter the total on line 51 and on Part I, line 11.

Part IV

Principal Agricultural Activity Codes

File Schedule C (Form 1040) or Schedule C-EZ (Form
1040) instead of Schedule F if (a) your principal
source of income is from providing agricultural
CAUTION
services such as soil preparation, veterinary, farm
labor, horticultural, or management for a fee or on a contract
basis, or (b) you are engaged in the business of breeding,
raising, and caring for dogs, cats, or other pet animals.

!
▲

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 page 1, line B.
Crop Production
111100
Oilseed and grain farming
111210
Vegetable and melon farming

111300
111400
111900

Fruit and tree nut farming
Greenhouse, nursery, and floriculture production
Other crop farming

Animal Production
112111
Beef cattle ranching and farming
112112
Cattle feedlots
112120
Dairy cattle and milk production
112210
Hog and pig farming
112300
Poultry and egg production
112400
Sheep and goat farming
112510
Aquaculture
112900
Other animal production
Forestry and Logging
113000
Forestry and logging (including forest nurseries and
timber tracts)

Schedule F (Form 1040) 2010