Guidance for Special Types of Businesses

Rules for Businesses in Certain Industries/Market Segment Specialization Program Guides (MSSP)/Market Segment Understandings (MSU)

Farming

Definition of Farming

You are in the business of farming if you cultivate, operate, or manage a farm for profit, either as owner or tenant. A farm includes stock, dairy, poultry, fish, fruit, and truck farms. It also includes plantations, ranches, ranges, and orchards.

Important References:

Publication 225                  Farmer's Tax Guide
Form 1040 Schedule F     Profit or Loss From Farming
                                             Ref Number 3