Farm Business & Financial Management
Schedule F Tax Form Guide for Farmers
A reading guide to the farm income and expense schedule used on a federal tax return, with plain steps for pulling your records together. Not tax advice.
GuideFarm Business & Financial ManagementFree PDF
The steps on this page
- Gather farm income records
- Pick your accounting method with your preparer
- List sales of crops and livestock
- Record other farm income
- Sort expenses by schedule category
- Handle asset purchases and depreciation
- Total income and expenses
- Review for errors or missing papers
- Keep copies of supporting records
How to use this guide
Pin it up in the shop or barn. The numbered steps are a short reminder, and the notes lines are for details specific to your operation.
Where to check the details
This sheet is a general template, so confirm specifics with your own manuals, labels and local rules. For current official guidance, start with IRS and USDA Economic Research Service.
For more in this area, see the farm finance explained. Between chores, farm.FM has farm humor, including Billionaires Escape Wealth Tax; Farmers Can’t Pack Orchards, and agribusiness farm stories.