Filing Form F for a foreign farm

Forum|Forum|2 years ago
November 19, 2023
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I am a US citizen and file a 1040. I personally own a farm in France, which I manage remotely. It has a loss. Can I file Form F with my Form 1040, to claim the loss, against my US income?

Hugh Aiken

Best answer by Anonymous_

Are you not using TurboTax?

There should be no reason why you could not use a net loss if you materially participated.

Anonymous_

Employee

Yes, provided you materially participate in the farm. Do you?

See https://www.irs.gov/instructions/i1040sf#en_US_2022_publink17152rd0e523

Hugh AikenAuthor

Yes, I do very materially participate.

In the meantime, I have tried to understand the Form F instructions. They explain many things about how losses are hard to claim. But they do not say anything about whether losses on a foreign farm are deductible.

Do you know of any official irs publication that says I can declare losses from a foreign farm against us income to any degree what-so-ever?

Or should I assume it is ok and file?

Hugh Aiken