Ohio Farm Bureau Foundation awards 2025 Workforce Development & Ag Literacy Grants
Grants support ag-related programming that enhances agricultural literacy efforts while creating pathways for young people to learn about ag careers.
Read MoreThe Internal Revenue Service has started a pilot program for auditing expenses farmers claim on Form 1040, Schedule F, which is used to report farm income and expenditures.
The IRS said the pilot auditing program, which runs from April 2017 to April 2018, is in reaction to concerns that taxpayers may be deducting expenses on the wrong form, deducting expenses that actually belong to another taxpayer or deducting hobby losses. Only 50 audits are being conducted through the pilot program. After it is completed, guidance may be incorporated into the Internal Revenue Manual.
“We wanted our members to be aware of this pilot audit program,” said Irene Messmer, OFBF’s chief financial officer. “It’s important to be exact when completing Form 1040, Schedule F and supplying the necessary documents to support deductions.”
The IRS said that in the pilot program, taxpayers are being asked to provide documentation to show they qualify for the questioned expenses. In general, a taxpayer may deduct reasonable, ordinary, necessary and business-related expenses on Schedule F. Occasionally, the items being verified appear to be verifiable deductions, but they should not be on a Schedule F. For example, they are not deductible on the Schedule F if they are related to the taxpayer’s full-time, off-the-farm job, Schedule A or a corporate return. These cases may also have start-up costs or a hobby loss where enjoyment of the property is the main focus of the farming activity.
Specifically, the pilot program is asking auditors to closely examine the following areas: custom hiring, gasoline, oil and fuel expenses, mortgage interest, repairs and maintenance and supplies.
The plan we are on is great. It’s comparable to my previous job's plan, and we are a sole proprietor.
To grow a network and gain perspective and knowledge in the industry through personal and professional development has been invaluable. Every day I learn and grow.
The issue of property taxation remains as one of the biggest challenges our members face today. Ensuring agricultural property is valued for its agricultural potential and not development is critical to the continued success of Ohio agriculture.
Farm Bureau is what really got the word out. It’s been one of their goals to get this done.
I could not have done it without the resources I have found through Farm Bureau.
Because we are younger farmers just starting out, Farm Bureau has a lot of good opportunities and resources to help us grow in the future.
Through the Select Partner program, we became educated in farm insurance and weren't just selling policies. It became more and more clear why farmers need an advocate like Ohio Farm Bureau.
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