Marie

Also, if there is a loss, is there any reason to figure the 199a?

Looking for guidance on a dairy farm that sells to DFA. also has calf sales and other misc income. DFA has given a DPAD amount on 2018 1099 patr

YES, THANKS

You can only put money into an IRA if you make earned income. So Sch c or F or partnership draws subject to SE have to make a profit for taxpayer to contribute. How could it not be attributable?

When figuring QBI? Sch c has a profit of $10000. pays SE tax, has SEHI, and a $2000 IRA, all shows up on sch 1 as deductions from income. Is QBI $10000 to put on the 199A worksheet, or $10,000 minus all those deductions of SE, SEHI, and IRA. Some examples show the deducts, other worksheets don't, and the examples in various pubs, etc only talke about the profit and then figuring 20% of profit or 20% of taxable income, whichever is less.

So, on my milkers I have to chose between dpad or qbi. I'm still looking for a good resource on dairies selling to coop, how to figure . most milkers raise calves, crops etc. How do I adjust expenses between the coop income and other. Maybe I've got this wrong, I've read so much, I am very confused.

OK, WHAT I THOUGHT, BUT IT'S A CONFUSING THING. THANKS

I THOUGHT, TOO, BUT, THE 1099 ISSUED BY DFA HAS DPAD AMOUNT ON IT. WOULD LIKE TO FIND INFORMATION ON FIGURING DAIRY FARMS QBID

FARMER SELLS PURCHASED BREEDING STOCK. ALL GAIN IS ORDINARY GAIN FROM 4797. ALSO SOLD EQUIPMENT, RECAPTURING THE DEPRECIATION, SO ORDINARY GAIN. DO THESE AMOUNTS ADD INTO THE 199A COMPUTATION?

DAIRY SELLS THEIR MILK TO DAIRY FARMERS OF AMERICA COOP. IF THEIR INCOME IS UNDER THE THRESHOLD DOES THE ADJUSTMENT CALCULATION NEED TO BE MADE? DFA IS PASSING ON A DPAD. CAN I USE THAT AND THE QBID?

I need that, too

line 1b on the SE form is the subtraction for crp payments.

i thought only CRP payments could be subtracted from SE

ALL MACHINERY(NEW AND USED)IS ELIGIBLE FOR BONUS DEPREC BUT I THINK ONLY NEW EQUIPMENT IS 5 YR

New farm machinery and equipment is set up for 5 years instead of used equipment at 7 yrs. ATX does not have a new equipment selection. Am I just to use 5 yr farm asset for the new equipment?