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Level 1
September 14, 2022
Question

is there a corporate farm worksheet similar to a sch. F in the 1120?

  • September 14, 2022
  • 3 replies
  • 15 views
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3 replies

dkh
Level 15
September 14, 2022

I couldn't find a Sched F in the 1120.   There is in the 1120S.

sjrcpa
Level 15
September 15, 2022

It's all 1120 page 1 income and deductions.

The more I know the more I don’t know.
The_AntiTax_Man
Level 7
September 19, 2022

@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.