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 05-27-2017, 09:15 Post: 56171
Chief



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 How many show a profit on their Schedule F ?

When filing their income tax return. I always seem to come up with more dedection and depreciation than income. I have been told by others that eventually the IRS expects you to show a profit and not just show a loss every year? Anymore it seems like you are lucky just to break even? Any comments or suggestions appreciated.






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 05-27-2017, 14:09 Post: 56182
plots1



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 How many show a profit on their Schedule F ?

You have up to 5 years to claim total loss. then i think they start looking a little closer. As long as you are making some sort of income I don't think there is a lot they can do.






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 05-27-2017, 19:04 Post: 56183
plots1



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 How many show a profit on their Schedule F ?

Are you selling tobacco?






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 05-27-2017, 23:58 Post: 56186
Chief



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 How many show a profit on their Schedule F ?

Right now I am leasing the tobacco allotment out.






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 05-29-2017, 00:30 Post: 56229
Misenplace



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 How many show a profit on their Schedule F ?

Chief, according to my advisors Plots is right as a general answer but if you have your proofs for loss this should not interefere with your CPA getting your schedules done accureately. They real key is to use a VERY reliable firm if you are going to post losses for a number of consecutive years as that at least in theory slows audits.






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