Hello,
I am a self-employed farm owner. I have a few questions on categorizing farm worker expenses such as daily living supplies, housing expenses, PPE, legal support, travel, etc.
How do you categorize all of the above within the schedule F?
The farm is a partnership (2 self-employed partners. We file a 1065 + Schedule F, and each file a K-1 with our individual tax returns)
You can deduct the cost of boarding farm workers, and that would be categorized as Labor Hired (line 22) on schedule F. You would enter that as Wages in the Common farming expenses section under Farm Expenses in TurboTax. Property, Plant and Equipment would be entered as Farm assets and TurboTax will determine the allowable depreciation deduction for them. Legal fees would be deductible as Other expenses on line 32 of Schedule F, as would travel expenses. They are entered as Other Miscellaneous expenses under Farm Expenses in the program.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
