University of Maryland Extension

IRS schedule F

Calculating profits for taxes

Urban Ag home | Table of contents An income statement is the one financial form that is required by the Internal Revenue Services for all farm businesses. It is used to calculate profit for tax purposes. The IRS version of an income statement is Schedule F (Form 1040) Profit or Loss From Farming (...
Maintained by the IET Department of the College of Agriculture and Natural Resources. © 2020. Web Accessibility

University programs, activities, and facilities are available to all without regard to race, color, sex, gender identity or expression, sexual orientation, marital status, age, national origin, political affiliation, physical or mental disability, religion, protected veteran status, genetic information, personal appearance, or any other legally protected class. If you need a reasonable accommodation to participate in any event or activity, please contact your localĀ University of Maryland Extension Office.