Federal Free Printable 2016 Schedule F (Form 1040) for 2017 Federal Profit or Loss From Farming

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Profit or Loss From Farming
2016 Schedule F (Form 1040)

SCHEDULE F (Form 1040) Department of the Treasury Internal Revenue Service (99) OMB No. 1545-0074 Profit or Loss From Farming 2016 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. ▶ Attachment Sequence No. A Principal crop or activity B Enter code from Part IV C Accounting method: Cash ▶ D Employer ID number (EIN), (see instr) Accrual E Did you “materially participate” in the operation of this business during 2016? If “No,” see instructions for limit on passive losses F Did you make any payments in 2016 that would require you to file Form(s) 1099 (see instructions)? . . . . . . . . . G If “Yes,” did you or will you file required Forms 1099? . . . . . . . . . . . . . . . . . . . . . . Part I Sales of livestock and other resale items (see instructions) . . . Cost or other basis of livestock or other items reported on line 1a . . . . . c 2 3a Subtract line 1b from line 1a . . . . . . . . . . . . Sales of livestock, produce, grains, and other products you raised Cooperative distributions (Form(s) 1099-PATR) . 3a . . . . 4a 5a b Agricultural program payments (see instructions) . 4a Commodity Credit Corporation (CCC) loans reported under election . CCC loans forfeited . . . . . . . . . 5b . 6 . . . . . . . . . . . . . . . . . 3b Taxable amount 1c 2 3b 4b Taxable amount . . . . . . 5c Taxable amount 4b 5a 5c Crop insurance proceeds and federal crop disaster payments (see instructions) Amount received in 2016 . . . . . . . 6a 6b Taxable amount If election to defer to 2017 is attached, check here ▶ 6d Amount deferred from 2015 6b 6d . . . Custom hire (machine work) income . . . . . . . . . . . . . . . . . . Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) . 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) . . . . . . . . . . ▶ Part II 11 12 13 Custom hire (machine work) . 12 13 14 Depreciation and section 179 expense (see instructions) . 14 15 16 17 Employee benefit other than on line 23 Feed . . . . Fertilizers and lime 15 16 17 18 19 20 Freight and trucking . . . Gasoline, fuel, and oil . . . Insurance (other than health) 21 Interest: Mortgage (paid to banks, etc.) Other . . . . . . . programs . . . . . . . . . 10 11 . . 7 8 9 Pension and profit-sharing plans 23 24 Rent or lease (see instructions): Vehicles, machinery, equipment Other (land, animals, etc.) . . 24a 24b a b 18 19 20 21a 21b 22 25 26 27 Repairs and maintenance Seeds and plants . . . Storage and warehousing . . . . . . 25 26 27 28 29 30 Supplies Taxes . Utilities . . . . . . . 28 29 30 31 32 Veterinary, breeding, and medicine Other expenses (specify): . . . . . . . . . . . . . . . 31 a b c 32a 32b 32c d e 32d 32e 32f Labor hired (less employment credits) 33 Total expenses. Add lines 10 through 32f. If line 32f is negative, see instructions . 35 36 a . . 23 22 34 . . Farm Expenses—Cash and Accrual Method. Do not include personal or living expenses (see instructions). Car and truck expenses (see instructions). Also attach Form 4562 Chemicals . . . . . . Conservation expenses (see instructions) a b No No No 1a 1b . . . . 7 8 10 Yes Yes Yes Farm Income—Cash Method. Complete Parts I and II (Accrual method. Complete Parts II and III, and Part I, line 9.) 1a b a c 14 Social security number (SSN) Name of proprietor f . . . . . . ▶ 33 Net farm profit or (loss). Subtract line 33 from line 9 . . . . . . . . . . . . . . . . 34 If a profit, stop here and see instructions for where to report. If a loss, complete lines 35 and 36. Did you receive an applicable subsidy in 2016? (see instructions) . . . . . . . . . . . . . . . . Check the box that describes your investment in this activity and see instructions for where to report your loss. All investment is at risk. b . Yes No Some investment is not at risk. For Paperwork Reduction Act Notice, see the separate instructions. Cat. No. 11346H Schedule F (Form 1040) 2016 Page 2 Schedule F (Form 1040) 2016 Part III Farm Income—Accrual Method (see instructions). 37 Sales of livestock, produce, grains, and other products (see instructions) 38a Cooperative distributions (Form(s) 1099-PATR) . 38a 38bTaxable amount 38b 39a Agricultural program payments . . . 39a 39bTaxable amount 39b 40 a Commodity Credit Corporation (CCC) loans: CCC loans reported under election . . . . . CCC loans forfeited b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 . 40a 40c Taxable amount 40c . 40b . . . . . . 41 Crop insurance proceeds . . . . . . . . . . . . . . . . . . . . . . 41 42 Custom hire (machine work) income . . . . . . . . . . . . . . . . . . . . . 42 43 Other 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 47 Add lines 45 and 46 . . 47 48 Inventory of livestock, produce, grains, and other products at end of year . 48 49 Cost of livestock, produce, grains, and other products sold. Subtract line 48 from line 47* . 49 . . . . . . . . . . . . . . . . . . . . 50 50 Gross income. Subtract line 49 from line 44. Enter the result here and on Part I, line 9 . . . . . ▶ *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 IV Principal Agricultural Activity Codes Do not file Schedule F (Form 1040) to report the following. • Income from providing agricultural services such as CAUTION 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 111100 Oilseed and grain farming 111210 Vegetable and melon farming 111300 111400 111900 Fruit and tree nut farming Greenhouse, nursery, and floriculture production Other crop farming Animal Production 112111 Beef cattle ranching and farming 112112 Cattle feedlots 112120 Dairy cattle and milk production 112210 Hog and pig farming 112300 Poultry and egg production 112400 Sheep and goat farming 112510 Aquaculture 112900 Other animal production Forestry and Logging 113000 Forestry and logging (including forest nurseries and timber tracts) Schedule F (Form 1040) 2016
Extracted from PDF file 2016-federal-1040-schedule-f.pdf, last modified December 2016

More about the Federal 1040 (Schedule F) Individual Income Tax TY 2016

We last updated the Profit or Loss From Farming in January 2017, so this is the latest version of 1040 (Schedule F), fully updated for tax year 2016. You can download or print current or past-year PDFs of 1040 (Schedule F) directly from TaxFormFinder. You can print other Federal tax forms here.

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Form Sources:

The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1040 (Schedule F) from the Internal Revenue Service in January 2017.

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About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of Federal 1040 (Schedule F)

We have a total of six past-year versions of 1040 (Schedule F) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 1040 (Schedule F)

2016 Schedule F (Form 1040)

Profit or Loss From Farming 2015 1040 (Schedule F)

2015 Schedule F (Form 1040)

Profit or Loss From Farming 2014 1040 (Schedule F)

2014 Schedule F (Form 1040)

Profit or Loss From Farming 2013 1040 (Schedule F)

2013 Schedule F (Form 1040)

Profit or Loss From Farming 2012 1040 (Schedule F)

2012 Schedule F (Form 1040)

Profit or Loss From Farming 2011 1040 (Schedule F)

2011 Form 1040 (Schedule F)


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