Schedule F

Schedule F

A form one files with the IRS to report the revenues and expenses from farming activities. For example, one may report payments for the sale of corn as revenues, and report repairs and wages paid to farmhands as expenses.
References in periodicals archive ?
Example: A farmer, F, is currently filing Schedule F and reporting a $50,000 net farm profit.
F has effectively transferred $40,000 of SE income from Schedule F to passive income reported on Schedule E, and reduced his SE tax by $5,652.