Last year I used Sch J for client. 2012 the form rolled over. I have to delete if I don't put in an amount. Can I leave it in, put an amount, which doesn't change the tax any (this year was not near as good as last year), but then it carries along and I have all the numbers - not having to look them up possibly next year. Can you continually use Sch J as long as farmer is in farming?
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I do not have a cite
and you should check the printed instructions to Sch J on the IRS website but as far as I know it can be used year after year. I doubt it would go to the government electronically or in a printed return in the years it did no good but as you say there is point in letting your software transfer the numbers year to year. -
I have put $1 and the whole eligible amount and the tax might change $1-$2. I can't see any reason, either, why I can't leave in. Program won't let me efile if I don't put a number in, and the other alternative is to delete Sch J, then lose all the past info.Comment
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One caution
I leave the form and let the software carry from year to year. But I discovered that it is important to zero out the amount elected if you decide it is of no benefit. I opened one this year and the amounts didn't match, so I opened last years return and it had an elected amount on Sch J, which was not filed as it did no good in 2011. But the software carried it forward as if it had been filed. Was easy to fix the amounts, but I'm glad I verified it.Linda Deckert
Minot, NDComment
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