F1 C F5 Y F2 N F7 Y F9 ~ | + F1 - A \ + F1 - C \ ? F1 + F5 - Y \ + F5 - S \ + F5 - B \ ? F5 + F2 - N \ + F2 - Y \ ? F2 + F7 - Y \ + F7 - N \ ? F7 + FTCD + FTCX ^ F5A + FAPP + FAPX ^ F6A + FCCF + FCCX ^ F7B + FLIV + FTCX + FAPX + FCCC + FCCX + FCRP + FCUS + FOTH ^ F45 + FINB + FCSP ^ F48 + F48 - FINE ^ F50 + F45 - F50 ^ F51 ^ TP1 + F2 - Y = + FINE - F48 > + 1 ^ TP1 + TP1 > + FINE - F48 ^ F50 + TP1 > + F45 + F50 ^ F51 + FSYB - FCST ^ F03 + FCRP + FCRX ^ F8A + F03 + FLIV + FTCX + FAPX + FCCC + FCCX + FCRX + FDEF + FCUS + FOTH ^ F11 + F1 - A = + F51 ^ F11 + FCEX + FCHM + FCON + FCHE + FDEP + FBEN + FEED + FFER + FFRG ^ F35 + F35 + FGFO + FINS + FINM + FINO + FLAB + FPEN + FRTM + FRTO + FREP ^ F35 + F35 + FSED + FSTR + FSUP + FTAX + FUTL + FVET + FOTE ^ F35 + F11 - F35 ^ F36 + F7 - N = + F36 > + F36 ^ VGA + F7 - N = + F36 < - F36 ^ VGB | S Is this business owned by Yourself 'Y'` Spouse 'S' or Both 'B'? B F5 R ~9 ^ S Accounting method; Cash 'C' or Accrual 'A'. B F1 R ~29 ^ S Did you materially participate in the operation of this business? (Y/N) B F7 ^ R -80 ^ S PART I - FARM INCOME - CASH METHOD R ~46 ^ S ~1 Sales of livestock and other items you R ~8 S ! ! R ~10 S !///! R ~10 ^ R ~4 S bought for resale R .23 S [FSYB]! 1 ! C FSYB S ! R /3 S ! R ~10 ^ S ~2 Cost or other basis of livestock and other R ~4 S ! ! R ~10 S !///! R ~10 ^ R ~4 S items reported on line 1 R .16 S [FCST]! 2 ! C FCST S ! R /3 S ! R ~10 ^ S ~3 Subtract line 2 from 1 R .39 S ! 3 ! T F03 ^ S ~4 Sales of livestock` produce` grains` and other products R ~6 S !///! R ~10 ^ R ~4 S you raised R .45 S [FLIV]! 4 ! C FLIV ^ S ~5a Total cooperative R ~44 S !///! R ~10 ^ R ~4 S distributions..[FTCD/X]! 5a! T F5A S ! 5b Taxable amt.[FTCX]! 5b! C FTCX ^ S ~6a Agricultural program R ~41 S !///! R ~10 ^ R ~4 S payments R .7 S [FAPP/X]! 6a! T F6A S ! 6b Taxable amt.[FAPX]! 6b! C FAPX ^ S ~7 Commodity Credit Corporation (CCC) loans R ~21 S !///! R ~10 ^ S ~~a CCC loans reported under election R .22 S [FCCC]! 7a! C FCCC ^ S ~~b CCC loans forfeited or repaid with R ~27 S !///! R ~10 ^ R ~4 S certificates...[FCCF/X]! 7b! T F7B S ! 7c Taxable amt.[FCCX]! 7c! C FCCX ^ S ~8 Crop insurance proceeds and certain disaster payments R ~8 S !///! R ~10 ^ S ~~a Amount rec R .5 S [FCRP/X]! 8a! T F8A S ! 8b Taxable amt.[FCRX]! 8b! C FCRX ^ S ~~d Amount deferred from last year R .25 S [FDEF]! 8d! C FDEF ^ S ~9 Custom hire (machine work) income R .22 S [FCUS]! 9 ! C FCUS ^ S 10 Other income` including gasoline or fuel tax credit R .4 S [FOTH]!10 ! C FOTH ^ S 11 Gross income. Add lines 3 through 10. If accrual method` R ~5 S !///! R ~10 ^ R ~4 S enter the amount from page 2 line 51 R .25 S !11 ! T F11 ^ R -80 ^ S PART II - FARM EXPENSES - CASH AND ACCURAL METHOD R ~31 ^ S 12 Car & truck exp R .4 S [FCEX]! C FCEX S ! 25 Pension and profit- R ~6 S ! R ~10 ^ S 13 Chemicals R .10 S [FCHM]! C FCHM S ! R ~4 S sharing plans R .6 S [FPEN]! C FPEN ^ S 14 Conservation exp...[FCON]! C FCON S ! 26 Rent or lease R ~12 S ! R ~10 ^ S 15 Custom hire R .8 S [FCHE]! C FCHE S !~~a Machinery & equip..[FRTM]! C FRTM ^ S 16 Depreciation and section ! R ~10 S !~~b Other (land etc.)..[FRTO]! C FRTO ^ S ~~~179 deduction R .6 S [FDEP]! C FDEP S ! 27 Repairs and R ~14 S ! R ~10 ^ S 17 Employee benefit programs! R ~10 S ! R ~4 S maintenance R .8 S [FREP]! C FREP ^ S ~~~other than line 25.[FBEN]! C FBEN S ! 28 Seeds and plants R ~9 S ! R ~10 ^ S 18 Feed purchased R .5 S [FEED]! C FEED S ! R ~4 S purchased R .10 S [FSED]! C FSED ^ S 19 Fertilizers & lime.[FFER]! C FFER S ! 29 Storage and R ~14 S ! R ~10 ^ S 20 Freight & trucking.[FFRG]! C FFRG S ! R ~4 S warehousing R .8 S [FSTR]! C FSTR ^ S 21 Gasoline/fuel/oil..[FGFO]! C FGFO S ! 30 Supplies purchased.[FSUP]! C FSUP ^ S 22 Insurance (other R ~9 S ! R ~10 S ! 31 Taxes R .14 S [FTAX]! C FTAX ^ S ~~~than health) R .7 S [FINS]! C FINS S ! 32 Utilities R .10 S [FUTL]! C FUTL ^ S 23 Interest R ~17 S ! R ~10 S ! 33 Veterinary fees R .4 S [FVET]! C FVET ^ S ~a Mortgage R .11 S [FINM]! C FINM S ! 34 Other expenses R .5 S [FOTE]! C FOTE ^ S ~b Other R .14 S [FINO]! C FINO S ! R ~40 ^ S 24 Labor hired (less jobs ! R ~10 S ! R ~40 ^ R ~3 S credit) R .12 S [FLAB]! C FLAB S ! R ~40 ^ R -80 ^ S 35 Total expenses. Add lines 12 through 34 R .22 S !35 ! T F35 ^ S 36 Net farm profit or (loss). Subtract line 35 from 11. Enter on! ! R ~10 ^ R ~4 S Form 1040` line 19 and Schedule SE` line 1.! B F9 S !(FZ1/FS1/FV1)!36 ! T F36 ^ F ^ S PART III - FARM INCOME - ACCRUAL METHOD R ~41 ^ S 38 Sales of livestock` produce` grains and other products.[FLIV]!38 ! C FLIV ^ S 39a Total cooperative R ~44 S !///! R ~10 ^ R ~4 S distributions.[FTCD/X]!39a! T F5A S !~39b Taxable amt.[FTCX]!39b! C FTCX ^ S 40a Agricultural program R ~41 S !///! R ~10 ^ R ~4 S payments R .6 S [FAPP/X]!40a! T F6A S !~40b Taxable amt.[FAPX]!40b! C FAPX ^ S 41 Commodity Credit Corporation (CCC) loans R ~21 S !///! R ~10 ^ S ~~a CCC loans reported under election R .22 S [FCCC]!41a! C FCCC ^ S ~~b CCC loans forfeited or repaid with R ~27 S !///! R ~10 ^ R ~4 S certificates..[FCCF/X]!41b! T F7B S ! 41c Taxable amt.[FCCX]!41c! C FCCX ^ S 42 Crop insurance proceeds R .32 S [FCRP]!42 ! C FCRP ^ S 43 Custom hire (machine work) income R .22 S [FCUS]!43 ! C FCUS ^ S 44 Other income` including federal and state gasoline R ~11 S !///! R ~10 ^ R ~4 S or fuel tax credit or refund R .27 S [FOTH]!44 ! C FOTH ^ S 45 Add amounts in the right column for lines 38 through 44 R .6 S !45 ! T F45 ^ S 46 Inventory of livestock` produce` grains` and ! ! R ~10 S !///! R ~10 ^ R ~4 S other products at beginning of year R .5 S [FINB]!46 ! C FINB S ! R /3 S ! R ~10 ^ S 47 Cost of livestock` produce` grains` and other ! ! R ~10 S !///! R ~10 ^ R ~4 S products purchased during year R .10 S [FCSP]!47 ! C FCSP S ! R /3 S ! R ~10 ^ S 48 Add lines 46 and 47 R .27 S !48 ! T F48 S ! R /3 S ! R ~10 ^ S 49 Inventory of livestock` produce` grains` and ! ! R ~10 S !///! R ~10 ^ R ~4 S other products at end of year R .11 S [FINE]!49 ! C FINE S ! R /3 S ! R ~10 ^ S 50 Cost of livestock` produce` grains` and other products sold. !///! R ~10 ^ R ~4 S Subtract line 49 from 48* R .36 S !50 ! T F50 ^ S 51 Gross income. Subtract line 50 from 45. Enter the result on !///! R ~10 ^ R ~4 S page 1` line 11. R ~45 S !51 ! T F51 ^ R ~80 ^ R ~4 S * If you use the unit-livestock-price method or the farm-price method R ~7 ^ R ~6 S of valuing inventory ('Y' or 'N' B F2 S ) and the amount on line 49 is R ~4 ^ R ~6 S larger than the amount on line 48` subtract line 48 from line 49. Enter~~~ ^ R ~6 S the result on line 50. Add lines 45 and 50. Enter the total on line 51.~~~ ^ |