Farm Income And Expenses Spreadsheet - Pps Tax Service
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1
2Farm Income and Expenses
Primary owner of the farm: _____Taxpayer
_____ Spouse
Principal Product: ____________________________________________________________________________
Employer ID #: ___________________
Agricultural Activity Code: ____________________
Accounting Method:
_____ Cash
_____ Accrual
Which applies regarding your investment: ____ All at risk
____ Some not at risk
FARM INCOME [Cash Method]
Sales of livestock and other items you bought for resale
Cost or other basis of livestock and other items bought for resale
Sales of livestock, produce, grains and other products raised
Total cooperative distributions received [from form 1099-PATR]
Taxable Amount
Total agricultural program payments
Taxable Amount
Commodity Credit Corporation [CCC] loans reported under election
CCC loans forfeited or repaid with certificates
Taxable Amount
Crop insurance proceeds and certain disaster payments received in tax year
Taxable Amount
Custom hire [machine work] income
Other Income: [include federal and state gasoline or fuel tax credit or refund]
FARM INCOME [Accrual Method]
Sales of livestock, produce, grains and other products during year
Total cooperative distributions [from form 1099-PATR]
Taxable Amount
Total agricultural program payments
Taxable Amount
Commodity Credit Corporation [CCC] loans reported under election
CCC loans forfeited or repaid with certificates
Taxable Amount
Crop insurance proceeds
Custom hire [machine work] income
Other Income: [include federal and state gasoline or fuel tax credit or refund]
Cost of Goods Sold:
Beginning Inventory of livestock, produce, grains and other products
Cost of livestock, produce, grains, and other products purchased during the year
Ending Inventory of livestock, produce, grains and other products
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