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March 6, 2021
Question

Need to correct schedule F

  • March 6, 2021
  • 1 reply
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Need to Change depreciation

    1 reply

    March 9, 2021

    Use IRS Form 1040 Schedule F Profit and Loss From Farming to report farm income and expenses

     

    In TurboTax Online Self-Employed, follow these steps to access Schedule F Profit and Loss From Farming

    • Click on Federal down the left hand side of the screen.
    • Click on Income & Expense across the top of the screen.
    • Scroll down to Rentals, Royalties and Farm.  Click Show more to the right.
    • To the right of Farm Income and Farm Rental, click Edit / Start.
    • At the screen Farm Summary, click on Edit to the right of the farm activity.
    • At the screen Your Farming Income and Expenses, scroll down to Farm Assets.  Click Start / Update to the right.
    • At the screen Do you want to go directly to your asset summary, click Yes.
    • At the Farm Asset Summary, click Edit to the right of the asset you want to change depreciation.

     

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