You can begin by exporting your transactions with the export function. If you need help with this, check out our exporting article.
You will then be asked questions that will help develop your Schedule F form.
It can be helpful to work on these questions with your accountant if you are unsure of any of them.
You can edit your responses after you complete them.
Once you have answered all of the questions, you can export your Schedule F to your email.
As a note, when you export the CSV, it is not your completed Schedule F. There are areas that you will still want to complete with your tax professional, such as Line 14 your depreciation.
Below this table will show you the line item and the Schedule F Questions or Tracks category that goes to that line.
Yellow means that it comes from the Schedule F Questions.
Green means that it comes from the Tracks app.
Blue means that it comes from the Tracks app AND/OR the Schedule F questions depending on your answers.
Line | Description of Line Item | Instructions | Schedule F Question or Tracks category |
| Name of proprietor |
| Tracks app - "First Name Last Name" |
| Social security number | Please complete with your accountant |
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A | Principal crop or activity | Answered in Schedule F Questions | "Select your Primary farming occupation" |
B | Farming activity code | We matched the code to your self-described principal activity | Code only |
C | Accounting method | We entered this data using cash-basis accounting |
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D | Employer ID number (EIN) (see instructions) | Please complete with your accountant |
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E | Did you “materially participate” in the operation of this business during 2022? If “No”, see instructions for limit on passive losses. | Please complete with your accountant |
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F | Did you make any payments in 2022 that would require you to file Form(s) 1099? See instructions | Please complete with your accountant |
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G | If “Yes”, did you or will you file required Form(s) 1099? | Please complete with your accountant |
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1a | Sales of purchased livestock and other resale items (see instructions) | Answered in Schedule F Questions | "What was the total amount" and "Did you sell any livestock you purchased this year or have any resale items?" |
1b | Cost or other basis of purchased livestock or other items reported on line 1a | Answered in Schedule F Questions | "What was the original cost?" You can find this answer under Tracks expense category - Livestock purchase |
1c | Subtract line 1b from line 1a | Answered in Schedule F Questions | Equals 1a - 1b |
2 | Sales of livestock, produce, grains, and other products you raised | Farmer provided this info | Equals (Tracks app - Total Income: Agricultural Sales + Total Income: Rent Received) minus Line 1a minus Form Questions - "Did any of your agricultural sales come from processed goods (such as jam, jerky, soap, wine, etc.)?" and "What was the total amount of these sales?" |
3a | Cooperative distributions (Forms(s) 1099 - PATR) | Answered in Schedule F Questions | "Did you receive any cooperative Distributions" and "What was the total amount of these distributions?" |
3b | Taxable amount | Answered in Schedule F Form; please confirm the taxable amount with your accountant | "What was the taxable amount of these distributions?" |
4a | Agricultural program payments (see instructions) | Entered in Tracks App | Tracks revenue category - Government Ag Payment Programs |
4b | Taxable amount | Answered in Schedule F Form; please confirm the taxable amount with your accountant | Tracks revenue catetory: Government Ag Payment Programs - Schedule F Question "What was the market gain amount?" |
5a | Commodity Credit Corporation loans reported under election | Answered in Schedule F Questions | "Did you receive Commodity Credit Corporation (CCC) loans that you've opted to report under election?" "What was the total amount of the CCC loan proceeds?" |
5b | CCC loans forfeited | Farmer provided this info | "what was the total amount of CCC loans forfeited?" |
5c | Taxable amount | Answered in Schedule F Form; please confirm the taxable amount with your accountant | This will be the forfeited amount. If the answer to "What was the total amount of CCC Loan proceeds?" is 0 or blank, this line will be empty. |
6 | Crop insurance proceeds and federal crop disaster payments (see instructions) | Intentionally left blank |
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6a | Amount received in 2023 | Entered in Tracks App | Tracks revenue category- Crop insurance or disaster payments |
6b | Taxable amount | Answered in Schedule F Form; please confirm the taxable amount with your accountant | If "Do you want to include certain crop insurance proceeds for 2024 if 2023 was the year of damage?" is answered 'Yes', then this will be set to 0.00. If you answer 'No' this will come from Tracks app - Income: Crop insurance or disaster payments |
6c | If election to defer to 2024 is attached, check here | Answered in Schedule F Questions | If "Do you want to include certain crop insurance proceeds for 2024 if 2023 was the year of damage?" is answered 'Yes' this will be checked. |
6d | Amount deferred from 2022 | Answered in Schedule F Questions | "Did you receive crop insurance proceeds in 2022 and chose to include these as income in 2023?" "What was the total amount of these proceeds?" |
7 | Custom hire (machine work) income | Entered in Tracks App | Tracks revenue category - Custom Work |
8 | Other income, including federal and state gasoline or fuel tax credit or refund (see instructions) | Entered in Tracks App | Tracks revenue category - Other/Farm |
9 | Gross income | Note that this estimate is based on cash-basis accounting | Equals 1c + 2 + 3b + 4b + 5a + 5c + 6b + 6d + 7 + 8 |
10 | Car and truck expenses (see instructions). Also, attach Form 4562 | Please complete form 4562 with your accountant | "Do you want to take the standard mileage rate or deduct expenses of operating your vehicles?" |
11 | Chemicals | Entered in Tracks App | Tracks expense category - Pesticides |
12 | Conservation expenses (see instructions) | Entered in Tracks App | Tracks expense category - Conservation Expenses; if (value is greater than line 9 * 0.25), then use (line 9 * 0.25); else use actual value from Track app |
13 | Custom hire (machine work) | Entered in Tracks App | Tracks expense category - Custom Machine Work |
14 | Depreciation and section 179 expense (see instructions) | Please determine depreciation expense (see asset depreciation schedule) - see asset export for additional details |
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15 | Employee benefit programs other than on line 23 | Entered in Tracks App | Tracks expense categories - Employee Benefit Programs + Employee Accident Insurance |
16 | Feed | Entered in Tracks App | Tracks expense category - Feed |
17 | Fertilizers and lime | Entered in Tracks App | Tracks expense category - Fertilizer and Lime |
18 | Freight and trucking | Entered in Tracks App | Tracks expense category Freight and Trucking |
19 | Gasoline, fuel, and oil | Entered in Tracks App | Tracks expense category - Gasoline, fuel, and oil |
20 | Insurance (other than health) | Entered in Tracks App | Tracks expense category - Farm Business Insurance |
21 | Interest (see instructions) | Intentionally left blank |
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21a | Mortgage (paid to banks etc) | Entered in Tracks App | Tracks expense category - Mortgage Interest Paid |
21b | Other | Entered in Tracks App | Tracks expense category - Other interest paid |
22 | Labor hired (less employment credits) | Entered in Tracks App | Tracks expense category - Hired labor |
23 | Pension and profit sharing plans | Entered in Tracks App | Tracks expense category - Pension and profit sharing plans |
24 | Rent or lease (see instructions): | Intentionally left blank |
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24a | Vehicles, machinery, equipment | Entered in Tracks App | Tracks expense category - Vehicle rental |
24b | Other (land , animals, etc.) | Entered in Tracks App | Tracks expense category - Land Rental + Animal Rental |
25 | Repairs and maintenance | Entered in Tracks App | Tracks expense categories - Building > Repairs and maintenance + Farm Equipment > Repairs and maintenance |
26 | Seeds and plants | Entered in Tracks App | Tracks expense category - Seeds and plants |
27 | Storage and warehousing | Entered in Tracks App | Tracks expense category - Storage and warehousing |
28 | Supplies | Entered in Tracks App | Tracks expense category - Farm Supplies |
29 | Taxes | Answered in Schedule F Form; please confirm the total taxes that should be entered here with your accountant | Questions- "How much did you pay for real estate and personal property taxes on farm business assets in 2023?" + "How much did you pay for Social Security and Medicare taxes to match required withholdings from farm employees' wages in 2023?" + "How much did you pay for Federal unemployment taxes on farm employees in 2023?" + "How much did you pay for Federal use taxes on highway motor vehicles used for farming in 2023?" |
30 | Utilities | Entered in Tracks App | Tracks expense category - Utilities |
31 | Veterinary, breeding, and medicine | Entered in Tracks App | Tracks expense category - Vet, breeding, and animal medicine |
32 | Other expenses (specify) | See expense export | Tracks expense categories - Other Business Expenses + Office Supplies + Business Startup Costs + Marketing + Accounting + Subscriptions + Tax Expense |
33 | Total expenses. Add lines 10 through 32f. If line 32f is negative, see the instructions |
| Sum of Lines 10 through 32 |
34 | Net farm profit or (loss). Subtract 33 from line 9. If a profit, stop here and see instructions for where to report. If a loss, complete line 36. |
| Line 9 - Line 33 |
35 | Reserved for future use. | Intentionally left blank |
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36 | Check the box that describes your investment in this activity and see instructions for where to report your loss. | Intentionally left blank |
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36a | All investment is at risk. | If necessary, please get assistance from your accountant |
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36b | Some investment is not at risk. | If necessary, please get assistance from your accountant |
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