To my more experienced farmer guru's. Question concerns base years. TP is a farmer in 2015,2014,2013. In 2012 tp was listed as a dependent on mom and dads return and had no income. Question becomes can TP use Schedule J for 2015 as tp has not filed this return. Tp's income for 2013-2015 is healthy from farming, does not work anywhere else. TP was buying baby calves @ about $100-200 raising them to be stock cows and selling them for $1200 to 1500. Thanks to who all may be able to answer. A pleminary view at 2016 looks like tp may have net of $40k
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Did you take a minute to look at the IRS instructions for Schedule J? The answer to your question is clearly answered right there at the very top of the first page.Roland Slugg
"I do what I can." -
I did read that. My only concern was that TP was a dependent on another return in the first base year and no income.Comment
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