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Level 2
March 10, 2021
Question

How do I get the COGS from form 1125-A to flow to Schedule F, not 1065?

  • March 10, 2021
  • 2 replies
  • 9 views
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2 replies

abctax55
Level 15
March 10, 2021

You enter the farm expenses on the farm input areas (Screen 11 in Lacerte, PTO's big sister).  You don't use the 1125-A input area.

HumanKind... Be Both
itonewbie
Level 15
March 10, 2021

Anna, you beat me by a couple seconds... 🤣

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abctax55
Level 15
March 10, 2021

Jensen, well... you do live a long ways away 😂

HumanKind... Be Both
itonewbie
Level 15
March 10, 2021

If those are livestock or items for resale, wouldn't you report those on Sch F, on Line 1 for cash method taxpayers or Part III for accrual method taxpayers?

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