Bright Raven
Well-known member
If you do your own taxes, expect to spend some time reading! Farm income, gain or loss, that shows up on Schedule F is reported on Schedule 1.
For Individuals:
The farm income gain (loss) is entered on Line 18 of Schedule 1, Additional Income and Adjustments to Income. In past years, the gain (loss) arrived at on Schedule F was recorded directly on Form 1040. With the new version of Form 1040 that goes into use this year (2018 Tax Year), the gain (loss) from Schedule F is reported on Schedule 1.
For Individuals:
The farm income gain (loss) is entered on Line 18 of Schedule 1, Additional Income and Adjustments to Income. In past years, the gain (loss) arrived at on Schedule F was recorded directly on Form 1040. With the new version of Form 1040 that goes into use this year (2018 Tax Year), the gain (loss) from Schedule F is reported on Schedule 1.