12/31/2025
Thanks for sharing.
If YOU own livestock and bought things this year to keep that livestock, poultry, even plants alive, be sure to file a Schedule F with your 1040.
You don't have to be a Corporation or LLC to file a Schedule F. Schedule F *(Is for Farming/Ag related profits and losses).
🛑 You can have losses the first few years without a profit.
Purchases that qualify you:
- Feed (livestock, poultry, plants)
- Bedding
- Seeds (grass, hay, vegetables & fruits)
- Fuel for farm equipment, taking livestock to butcher.
- Vehicle farm use (picking up feed, driving to vet, making deliveries, vehicle fees like registration, taxes, new tires, oil changes)
- Any Money spent on farm/livestock stuff can be declared and most likely *written off.
- Credit Card fees paid to offer farm products to customers.
- Dairy purchases (jugs, lids, cleaning, sanitizing, water use, electricity use, labels, milking supplies, filters, milk testing, etc.)
We use Turbo Tax, have always used it to file our farm & personal taxes. You DO NOT need to be a CPA to file your own taxes. What we love about Turbo Tax is it takes you step by step and anytime you feel overwhelmed you can stop and come back, you can even chat with a Certified CPA for free right from your laptop.
*Writes offs don't equal a refund. It can help lessen your overall tax bill.
Happy Taxing. ❤️