The respondent sold and delivered $35,000 dollars of soybeans on the cash market in December 2022 but deferred the payment for tax purposes. The respondent received $35,000 on January 16, 2023. How should those dollars be recorded?
In Section M: Type of Organization (CRR version), if you answer no to question 6, what does the instructions tell you to do?
The expenditure/expenses items in the IRS 1040F form have ALL the details necessary for each item in the “Operating & Capital Expenditures“ section.
Section A question 10, Cash Rent Received for acres rented to others can be skipped if the operation rented no land out during the year.
In which questionnaire versions are the Unsold Commodity Inventory questions? Mark all that apply.
ARMS 3 contract data collected is USDA’s only source of data to separate production, income, and expenses.
In the Direct Sales section, responses for the table in question 1 should include both processed and unprocessed products produced by the operation.
Production contracts are typical on farms that are (check all that apply).
In the Direct Sales section, should item 2 – Marketing Expenses for Direct Sales – exclude expenses not related to the farm business?