SCHEDULE F (Form 1040)
Department of the Treasury Internal Revenue Service (99)
Profit or Loss From Farming
Attach to Form 1040, Form 1040NR, Form 1041, Form 1065, or Form 1065-B. See Instructions for Schedule F (Form 1040).
OMB No. 1545-0074
Attachment Sequence No.
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
C Accounting method:
Accrual Yes No
E Did you "materially participate" in the operation of this business during 2008? If "No," see page F-3 for limit on passive losses.
1 2 3 4
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 3 4 5b Taxable amount 6b Taxable amount 5b 6b 7a 7b 7c Taxable amount 8b Taxable amount 7c 8b 8d 9 10 11
Sales of livestock and other items you bought for resale Cost or other basis of livestock and other items reported on line 1 Subtract line 2 from line 1
Sales of livestock, produce, grains, and other products you raised 5a 5a Cooperative distributions (Form(s) 1099-PATR) 6a 6a Agricultural program payments (see page F-3) 7 Commodity Credit Corporation (CCC) loans (see page F-3): a CCC loans reported under election b CCC loans forfeited 8 Crop insurance proceeds and federal crop disaster payments (see page F-3): 8a a Amount received in 2008 c If election to defer to 2009 is attached, check here 9 10 11 Custom hire (machine work) income
8d Amount deferred from 2007
Other income, including federal and state gasoline or fuel tax credit or refund (see page F-4) 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
12 13 14 15 16
Farm Expenses--Cash and Accrual Method. Do not include personal or living expenses such as taxes, insurance, or repairs on your home.
25 12 13 14 15 27 28 16 17 18 19 20 21 22 23a 23b 24 29 30 31 32 33 34 a b c d e f 26 Pension and profit-sharing plans Rent or lease (see page F-6): a Vehicles, machinery, and equipment b Other (land, animals, etc.) Repairs and maintenance Seeds and plants Storage and warehousing Supplies Taxes Utilities Veterinary, breeding, and medicine Other expenses (specify): 34a 34b 34c 34d 34e 34f 35 36 26a 26b 27 28 29 30 31 32 33 25
Car and truck expenses (see page F-5). Also attach Form 4562 Chemicals Conservation expenses (see page F-5) Custom hire (machine work) Depreciation and section 179 expense deduction not claimed elsewhere (see page F-5) Employee benefit programs other than on line 25 Feed Fertilizers and lime Freight and trucking Gasoline, fuel, and oil Insurance (other than health) Interest:
17 18 19 20 21 22 23
a Mortgage (paid to banks, etc.) b Other 24 Labor hired (less employment credits) 35 36
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 page F-7. 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. If you have a loss, you must check the box that describes your investment in this activity (see page F-7). 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, you must attach Form 6198. Your loss may be limited.
Cat. No. 11346H
All investment is at risk.
Some investment is not at risk.
For Paperwork Reduction Act Notice, see page F-7 of the instructions.
Schedule F (Form 1040) 2008
Schedule F (Form 1040) 2008
Farm Income--Accrual Method (see page F-7).
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.
Sales of livestock, produce, grains, and other products 39a 40a 39b Taxable amount 40b Taxable amount
38 39b 40b
39a Cooperative distributions (Form(s) 1099-PATR) 40a Agricultural program payments 41 Commodity Credit Corporation (CCC) loans: a CCC loans reported under election b CCC loans forfeited 42 43 44 45 46 47 Crop insurance proceeds Custom hire (machine work) income
41a 41b 41c Taxable amount 41c 42 43 44 45 46 47 48 49 50 51
Other income, including federal and state gasoline or fuel tax credit or refund Add amounts in the right column for lines 38 through 44 Inventory of livestock, produce, grains, and other products at beginning of the year Cost of livestock, produce, grains, and other products purchased during the year Add lines 46 and 47 Inventory of livestock, produce, grains, and other products at end of year
48 49 50 51
Cost of livestock, produce, grains, and other products sold. Subtract line 49 from line 48* 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 CAUTION principal source of income is from providing agricultural 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) 2008