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Is schedule F equal to schedule C

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Sole proprietor, farm owner. CPA is asking if can use schedule for Pension purposes. 

Never heard of it but someone may have experience with farm owners.



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My understanding is you use line 34 from Schedule F to report your net farm profit or loss.  This is carried forward as net income from self-employment and is used for pension purposes.  This is analogous for non-farm net earnings from self-employment from Schedule C.

Note that line 23 on Schedule F is where you would report contributions the farm business made for common law employees, but not contributions for the farm owner.

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As long as you use Line 34 of Sch F you will be ok.  Cattle that is purchased and later sold is reported on Form 4797 and not subject to SE.

Since farming is a capital intensive business, it is important to coordinate with the CPA or you will do all of the work to later learn he has a loss from depreciation deductions.

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