Form Pa-40 F - Pa Schedule F - Farm Income And Expenses Page 3
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40903420016
PA Schedule F
START
Farm Income
and Expenses
HERE
Include with Form
PA-40 F (09–09)
20
PA-40, PA-20S/PA-65 or PA-41
OFFICIAL USE ONLY
Name of owner as shown on PA tax return:
-
-
Owner’s
Social Security Number
A. Agricultural Activity Code. Write the code that best describes your principal income-
B Principal Product. Describe in one or two words your principal
producing activity. Codes are listed on the reverse side of this schedule.
crop or output for the current tax year.
If you disposed of commodities received under the payments-in-kind program, fill in the oval(s) that apply:
Taxpayer Identification Number (not SSN)
-
C
Feed for livestock
Sold and reported in income
Farm Income—Cash Method—Complete Parts I and II
Part I
Sales Tax License Number (if applicable)
(Accrual method taxpayers complete Parts II and III and Line 12 of Part I.)
-
1. Sales of livestock and other items bought for resale
1.
2. Cost or other basis of livestock and other items bought for resale
2.
3. Subtract Line 2 from Line 1
3.
4. Sales of livestock, produce, grains and other products raised
4.
5. a. Total distributions received from cooperatives (from Form 1099-PATR)
5a.
5a
b. Less: Non-income items
5b.
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, interest income and sales of
operational assets
11.
12. Gross income. Add amounts on Lines 3, 4, 6 and 7a through 11. If using the accrual method, enter the
amount from Part III, Line 53
12.
Part II
Farm Deductions-Cash and Accrual Method
. Do not include personal or living expenses. Reduce the amount of
your farm deductions by any reimbursements before entering the deduction.
13. Breeding fees
27. Other interest
14. Chemicals
28. Pension and profit-sharing plans for
employees
15. Conservation expenses
29. Rent of farm, pasture
16. a. Regular depreciation
30. Repairs, maintenance
b. Section 179 expense
31. Seeds, plants purchased
17. Employee benefit programs other than
32. Storage, warehousing
those on Line 28
33. Supplies purchased
18. Feed purchased
34. Taxes
19. Fertilizers and lime
35. Utilities
20. Freight, trucking
36. Veterinary fees, medicine
21. Gasoline, fuel, oil
37. Other expenses (specify):
22. Insurance
a.
23. a. Labor hired
b.
b. Jobs credit
c.
c. Balance (subtract Line 23b from
37. Total other expenses
Line 23a)
38. Total expenses (Add Lines 13
24. Land clearing
through 37.)
25. Machine hire
Reduce expenses by the total business
39.
credits claimed (for example,
26. Mortgage interest paid to financial
Employment Incentive Payments
institutions
Credit) on your PA 40.
40. Total deductions. Subtract Line 39 from Line 38
40.
41. Net farm profit or loss Subtract Line 40 from Line 12. If a net loss is shown, fill in the oval.
Loss
Enter the result on your PA tax return.
41.
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