Form Pa-40 F - Schedule F - Farm Income And Expenses
ADVERTISEMENT
1
2kibeecdbhi
PA-40 F (09-98)
19
COMMONWEALTH OF PENNSYLVANIA
SCHEDULE F
Attach to form
FARM INCOME AND EXPENSES
PA-40, PA-65 or PA-41
PA DEPARTMENT OF REVENUE
Name of Proprietor as shown on PA tax return.
Social Security Num ber
of P roprietor
A
Agricultural Activity Code. (W rite in the code that best describes your principal income-pro ducing activity.
B Principal Product. (Describe in one or two words your principal crop or output for the current tax
^
^
The codes are listed on the reverse side of this schedule.)
year.)
If you disposed of commodities received under the payments-in-kind (PIK) program, fill-in the oval(s) that apply:
Taxpayer Identification Num ber (not SSN)
Feed for livestock
Sold and reported in income
C
Part I
Farm Income — Cash Method — Complete Parts I and II
(Accrual method taxpayers complete Parts II and III, and line 12 of Part I.)
1
Sales of livestock and other items you bought for resale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
Cost or other basis of livestock and other items you bought for resale . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
3
Subtract line 2 from line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
4
Sales of livestock, produce, grains, and other products you raised . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
5
a
Total distributions received from cooperatives (from Form 1099-PATR) . . . . . . .
5a
b Less:
Nonincome items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5b
6
Net distributions. Subtract line 5b from line 5a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
7
Agricultural program payments:
a
Cash. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7a
b
Materials and services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7b
8
Commodity credit loans under election (or forfeited) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
9
Crop insurance proceeds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
10
Machine work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11
Other income, including Federal and state gasoline tax credit or refund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
See Instructions Booklets for interest income and sales of operational assets.
12
Gross income. Add amounts on lines 3, 4, 6, and 7a through 11. If accrual method taxpayer, enter the amount
^
from Part III, line 52 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12
Part II
Farm Deductions — Cash and Accrual Method
Do not include personal or living expenses (such as taxes, insurance, repairs, etc. on your home), which do not produce
farm income. Reduce the amount of your farm deductions by any reimbursements before entering the deduction below.
13
Breeding fees . . . . . . . . . . . . . . . . . . . . .
26
Mortgage interest paid to financial
14
Chemicals . . . . . . . . . . . . . . . . . . . . . . . .
institutions . . . . . . . . . . . . . . . . . . . . . . . .
15
Conservation expenses . . . . . . . . . . . . . .
27
Other interest . . . . . . . . . . . . . . . . . . . . .
28
Pension and profit-sharing plans for
16
Depreciation, and section 179
employees . . . . . . . . . . . . . . . . . . . . . . . .
expense deduction (from Form 4562) . . .
29
Rent of farm, pasture . . . . . . . . . . . . . . .
17
Employee benefit programs other
30
Repairs, maintenance . . . . . . . . . . . . . . .
than on line 28 . . . . . . . . . . . . . . . . . . . . .
31
Seeds, plants purchased . . . . . . . . . . . . .
18
Feed purchased . . . . . . . . . . . . . . . . . . .
32
Storage, warehousing . . . . . . . . . . . . . . .
19
Fertilizers and lime . . . . . . . . . . . . . . . . .
33
Supplies purchased . . . . . . . . . . . . . . . .
20
Freight, trucking . . . . . . . . . . . . . . . . . . .
34
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21
Gasoline, fuel, oil . . . . . . . . . . . . . . . . . . .
35
Utilities . . . . . . . . . . . . . . . . . . . . . . . . . .
22
Insurance . . . . . . . . . . . . . . . . . . . . . . . .
36
Veterinary fees, medicine . . . . . . . . . . . .
23
a Labor hired
37
Other expenses (specify):
b Jobs credit
a
________________________________________
c Balance (subtract line 23b from
b
________________________________________
line 23a) . . . . . . . . . . . . . . . . . . . . . . .
c
________________________________________
Reduce expenses by the total business credits
24
Land clearing . . . . . . . . . . . . . . . . . . . . . .
claimed (for example, Employment Incentive
38
25
Machine hire . . . . . . . . . . . . . . . . . . . . . .
Payments Credit) on your PA-40.
^
39 Total deductions from Part II.
Add Lines 13 through 37c and deduct Line 38. . . . . . . . . . . . . . . . . . . . . . . . . . . .
39
40 Net farm profit or loss (subtract Line 39 from Line 12) Enter here. If a net profit is shown, enter here
Loss
and on the appropriate line of the PA tax return. If a net loss is shown, fill-in the oval here and enter the
result on the PA tax return. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
40
kibeecdbhi
kibeecdbhi
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial