You will first head to "Categories" on the left hand side of your screen in the web browser or under "Menu" on the top left corner.
You will then click on the category that you want to edit.
From there you should see all of your transactions under that category. You can then go to the top right hand corner and press edit.
Here you will be able to change the name and add or remove it from a Schedule F category.
When you are finished, make sure to press save!
Additionally, ensure that the category you are editing is a custom category if you wish to include it in the Schedule F, as pre-established categories cannot be modified in this manner.
The Schedule F is a critical IRS form used by farmers to report income and expenses from their farming operations. With FarmRaise, you can manage this form effectively by categorizing your financial transactions accurately. This allows farmers to ensure proper tax reporting and identify deductions efficiently.
If you have further questions about how to do this, please feel free to reach out to [email protected].
Limitations and Additional Notes:
Only custom categories can be modified to be included in Schedule F.
Pre-established categories are locked and cannot be edited to maintain compliance and standard reporting.