Instructions for Schedule F (Form 1040), Profit or Loss From Farming

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2012

taxmap/instr/i1040sf-000.htm#en_us_publink_17152rd0e36Introduction

Use Schedule F (Form 1040) to report farm income and expenses. File it with Form 1040, 1040NR, 1041, 1065, or 1065-B.

Your farming activity may subject you to state and local taxes and other requirements such as business licenses and fees. Check with your state and local governments for more information.

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Pub. 225 has more information and examples to help you complete your farm tax return. It also lists important dates that apply to farmers.

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For the latest information about developments related to Schedule F (Form 1040) and its instructions, such as legislation enacted after they were published, go to www.irs.gov/form1040.

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Gross receipts received via payment card (credit and debit cards) and third party network payments are not separately reported on Schedule F.

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The standard mileage rate for business use of your vehicle for 2012 is 55.5 cents per mile.

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This tax has been extended through September 30, 2017.

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2012 Instructions for Schedule F

Profit or Loss From Farming(p1)

2012

taxmap/instr/i1040sf-000.htm#en_us_publink_17152rd0e36Introduction

Additional information.(p1)

Future Developments(p1)

What's New(p1)

No separate payment card reporting requirements.(p1)

Standard mileage rate. (p1)

Heavy highway vehicle use tax.(p1)