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laws dot-com legal forms guide profit or loss from farming Schedule F this form is used to report farm income and expenses you have to file this form along with form 1040 1040 and our 1041 ten sixty five or ten sixty five B you may be subject to other state and local taxes as well review the following instructions from the IRS for more information on this form step one if you and your spouse jointly owned and operate a farm as an unincorporated business and share the profits and losses you can be taxed as a partnership and file form 1065 or you can qualify for a joint venture and file Schedule F step two in Part one show the income received for items listed on lines one through eight B you'll usually have to include cash actually and constructively received as well as the fair market value of goods and other property received if you ran the farm yourself and receive rents for crop shares or farm production report the rents on lines to a or to B see pages f3 through f5 for more instruct

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