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Fillable Printable Form 1040 Schedule F

Fillable Printable Form 1040 Schedule F

Form 1040 Schedule F

Form 1040 Schedule F

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.
Information about Schedule F and its separate instructions is at www.irs.gov/schedulef.
OMB No. 1545-0074
2016
Attachment
Sequence No. 14
Name of proprietorSocial security number (SSN)
A Principal crop or activityB Enter code from Part IV
C Accounting method:
Cash Accrual
D
Employer ID number (EIN), (see instr)
E Did you “materially participate” in the operation of this business during 2016? If “No,” see instructions for limit on passive lossesYesNo
F
Did you make any payments in 2016 that would require you to file Form(s) 1099 (see instructions)? .........YesNo
G
If “Yes,” did you or will you file required Forms 1099? ......................YesNo
Part I
Farm Income—Cash Method. Complete Parts I and II (Accrual method. Complete Parts II and III, and Part I, line 9.)
1aSales of livestock and other resale items (see instructions).....1a
bCost or other basis of livestock or other items reported on line 1a ...
1b
cSubtract line 1b from line 1a ........................1c
2Sales of livestock, produce, grains, and other products you raised ............2
3aCooperative distributions (Form(s) 1099-PATR).3a3bTaxable amount3b
4aAgricultural program payments
(see instructions)
.4a4bTaxable amount4b
5aCommodity Credit Corporation (CCC) loans reported under election ............5a
bCCC loans forfeited .........5b5cTaxable amount5c
6Crop insurance proceeds and federal crop disaster payments (see instructions)
aAmount received in 2016 .......6a6bTaxable amount6b
cIf election to defer to 2017 is attached, check here
6dAmount deferred from 2015 6d
7Custom hire (machine work) income .....................7
8Other income, including federal and state gasoline or fuel tax credit or refund
(see instructions)....8
9
Gross income. Add amounts in the right column (lines 1c, 2, 3b, 4b, 5a, 5c, 6b, 6d, 7, and 8). If you use the
accrual method, enter the amount from Part III, line 50 (see instructions)..........
9
Part II
Farm Expenses—Cash and Accrual Method. Do not include personal or living expenses (see instructions).
10
Car and truck expenses (see
instructions). Also attach Form 4562
10
11Chemicals ......11
12
Conservation expenses (see instructions)
12
13Custom hire (machine work) .13
14
Depreciation and section 179
expense (see instructions).14
15
Employee benefit programs
other than on line 23 ...15
16Feed .......16
17Fertilizers and lime ...17
18Freight and trucking ...18
19Gasoline, fuel, and oil ...19
20Insurance (other than health)20
21Interest:
aMortgage (paid to banks, etc.)21a
bOther .......21b
22
Labor hired (less employment credits)
22
23Pension and profit-sharing plans 23
24Rent or lease (see instructions):
aVehicles, machinery, equipment 24a
bOther (land, animals, etc.) ..24b
25Repairs and maintenance ..25
26Seeds and plants .....26
27Storage and warehousing ..27
28Supplies .......28
29Taxes ........29
30Utilities ........30
31
Veterinary, breeding, and medicine
31
32Other expenses (specify):
a32a
b32b
c32c
d32d
e32e
f
32f
33Total expenses. Add lines 10 through 32f. If line 32f is negative, see instructions .......
33
34
Net farm profit or (loss). Subtract line 33 from line 9................
If a profit, stop here and see instructions for where to report. If a loss, complete lines 35 and 36.
34
35Did you receive an applicable subsidy in 2016? (see instructions).................YesNo
36Check the box that describes your investment in this activity and see instructions for where to report your loss.
a
All investment is at risk.bSome investment is not at risk.
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11346H
Schedule F (Form 1040) 2016
Schedule F (Form 1040) 2016
Page 2
Part IIIFarm Income—Accrual Method (see instructions).
37
Sales of livestock, produce, grains, and other products (see instructions) ...........
37
38aCooperative distributions (Form(s) 1099-PATR) .38a38bTaxable amount38b
39aAgricultural program payments ......39a39bTaxable amount
39b
40Commodity Credit Corporation (CCC) loans:
aCCC loans reported under election ......................
40a
bCCC loans forfeited .........40b40cTaxable amount40c
41Crop insurance proceeds ........................41
42Custom hire (machine work) income .....................
42
43Other income (see instructions).......................
43
44 Add amounts in the right column for lines 37 through 43 (lines 37, 38b, 39b, 40a, 40c, 41, 42, and 43) ..44
45
Inventory of livestock, produce, grains, and other products at beginning of
the year. Do not include sales reported on Form 4797 .......
45
46
Cost of livestock, produce, grains, and other products purchased during the
year ......................
46
47Add lines 45 and 46 .................47
48Inventory of livestock, produce, grains, and other products at end of year .
48
49Cost of livestock, produce, grains, and other products sold. Subtract line 48 from line 47* .....
49
50Gross income. Subtract line 49 from line 44. Enter the result here and on Part I, line 9 .....
50
*If you use the unit-livestock-price method or the farm-price method of valuing inventory and the amount on line 48 is larger than the amount on line
47, subtract line 47 from line 48. Enter the result on line 49. Add lines 44 and 49. Enter the total on line 50 and on Part I, line 9.
Part IVPrincipal Agricultural Activity Codes
!
CAUTION
Do not file Schedule F (Form 1040) to report the
following.
• Income from providing agricultural services such as
soil preparation, veterinary, farm labor, horticultural, or
management for a fee or on a contract basis. Instead file
Schedule C (Form 1040) or Schedule C-EZ (Form 1040).
• Income from breeding, raising, or caring for dogs, cats, or
other pet animals. Instead file Schedule C (Form 1040) or
Schedule C-EZ (Form 1040).
• Sales of livestock held for draft, breeding, sport, or dairy
purposes. Instead file Form 4797.
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 line B.
Crop Production
111100Oilseed and grain farming
111210Vegetable and melon farming
111300Fruit and tree nut farming
111400Greenhouse, nursery, and floriculture production
111900Other crop farming
Animal Production
112111Beef cattle ranching and farming
112112Cattle feedlots
112120Dairy cattle and milk production
112210Hog and pig farming
112300Poultry and egg production
112400Sheep and goat farming
112510Aquaculture
112900Other animal production
Forestry and Logging
113000Forestry and logging (including forest nurseries and
timber tracts)
Schedule F (Form 1040) 2016
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