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- is there a corporate farm worksheet similar to a sch. F in the 1120?
is there a corporate farm worksheet similar to a sch. F in the 1120?
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rickw1
Level 1
09-14-2022
02:26 PM
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The_AntiTax_Man
Level 8
09-19-2022
04:10 PM
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@rickw1 there is not a Form Sch F, nor a Sch F worksheet, in the PS 1120 module. You need to report everything onto the Form 1120.
At the Form 1120, line 10 (attach statement), go into the Other Income Worksheet and scroll down to line 8 Gross income from farming. Then click into the Other Income Worksheet/Farm Income supporting statement. The gross farm income gets entered there. The farm expenses get entered onto Form 1120, lines 12 thru line 26.
Years ago 1120 software programs did include a Sch F worksheet, but the IRS made the software vendors stop including it. I believe it was due to an IRS problem with the electronic processing the 1120 returns at the IRS end.
