Small Business Resource Guide 2002
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Home > Guidance for Special Types of Businesses > Rules for Businesses in Certain Industries/Market Segment Specialization Program Guides (MSSP)/Market Segment Understandings (MSU) > Farming

Guidance for Special Types of Businesses

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

Farming

Special Estimated Tax for Farmers

When you must pay estimated tax and file your return depends on whether you receive at least two-thirds of your total gross income from farming in the current or prior year. Gross income is not the same as total income, shown on line 22 of Form 1040.

Gross Income

Gross Income From Farming

Percentage From Farming

Figure 2-A Estimated Tax for Farmers


Important References:                                               

Publication 225     Farmer's Tax Guide
Publication 505     Tax Withholding and Estimated Tax
Form 1040 ES       Estimated Tax For Individuals
Form 2210-F          Underpayment of Estimated Tax by Farmers and Fishermen