Publication 225: Farmer's Tax Guide; Publication 225 (2003) Farmer'sTax Guide

2003 Tax Help Archives

Home > Tax Help Archives > 2003 > Publications > Publication 225

Publication 225

2003 Tax Year

Publication 225 (2003)
Farmer'sTax Guide

This is archived information that pertains only to the 2003 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Table of Contents

Publication 225 - Introductory Material
- Introduction
- Important Changes for 2003
- Important Changes for 2004
- Important Reminders
- Important Dates
- 2004 Calendar Year
Importance of Good Records
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Why Keep Records?
- Kinds of Records To Keep
- How Long To Keep Records
Filing Requirements and Return Forms
- Important Change for 2003
- Important Reminders
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Filing Requirements
- Taxpayer Identification Number
- Estimated Tax Payment and Return Due Dates
- Forms You May Need To File
- Partnership
- Limited Liability Company (LLC)
- Corporation
- S Corporation
Accounting Periods and Methods
- Important Reminders for 2003
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Accounting Periods
  - Change in Tax Year
- Accounting Methods
Farm Income
- Important Change for 2003
- Important Reminder
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Schedule F
- Sales of Farm Products
- Rents (Including Crop Shares)
  - Crop Shares
- Agricultural Program Payments
- Income From Cooperatives
  - Patronage Dividends
  - Per-Unit Retain Certificates
- Cancellation of Debt
- Income From Other Sources
  - Sod.
  - Granting the right to remove deposits.
- Farm Income Averaging
Farm Business Expenses
- Important Changes for 2003
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Deductible Expenses
- Capital Expenses
- Nondeductible Expenses
  - Personal, Living, and Family Expenses
  - Other Nondeductible Items
- Losses From Operating a Farm
  - At-Risk Limits
  - Passive Activity Limits
- Net Operating Losses
  - Eligible loss.
  - Farming loss.
- Not-for-Profit Farming
Soil and Water Conservation Expenses
- Introduction
- Topics - This chapter discusses:
- Business of Farming
- Plan Certification
- Conservation Expenses
  - Water well.
- Assessment by Conservation District
  - Assessment for Depreciable Property
- Limit on Deduction
  - Net operating loss.
- Choosing To Deduct
- Sale of a Farm
Basis of Assets
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Cost Basis
- Adjusted Basis
  - Increases to Basis
  - Decreases to Basis
- Basis Other Than Cost
Depreciation, Depletion, and Amortization
- Important Changes for 2003
- Important Reminder
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Overview of Depreciation
- Section 179 Deduction
- Claiming the Special Depreciation Allowance
- Figuring Depreciation Under MACRS
- Additional Rules for Listed Property
- Depletion
- Amortization
General Business Credit
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- How To Claim the Credit
- Carryback and Carryforward
- Investment Credit
  - Recapture of Investment Credit
Gains and Losses
- Important Changes
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Sales and Exchanges
- Ordinary or Capital Gain or Loss
Dispositions of Property Used in Farming
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Section 1231 Gains and Losses
  - Nonrecaptured section 1231 losses.
- Depreciation Recapture
- Other Gains
Installment Sales
- Important Reminder
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Installment Method
- Figuring Installment Sale Income
- Payments Received or Considered Received
- Installment Sale of a Farm
  - Example
Casualties, Thefts, and Condemnations
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Casualties and Thefts
- Other Involuntary Conversions
- Postponing Gain
- Disaster Area Losses
  - Who is eligible.
  - Covered disaster area.
- Reporting Gains and Losses
Alternative Minimum Tax
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Form 6251
  - Exception.
  - Child under age 14.
- Records You Must Keep
- Credit for Prior Year Minimum Tax
Self-Employment Tax
- Important Change for 2003
- Important Change for 2004
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Why Pay Self-Employment Tax?
- How To Pay Self-Employment Tax
- Who Must Pay Self-Employment Tax?
  - Community income from a partnership.
- Figuring Earnings Subject to Self-Employment Tax
  - Landlord Participation in Farming
- Methods for Figuring Net Earnings
- Reporting Self-Employment Tax
Employment Taxes
- Important Change for 2004
- Important Reminder
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Farm Employment
- Family Employees
- Crew Leaders
- Social Security and Medicare Taxes
  - Religious exemption.
  - Wage limit.
- Income Tax Withholding
  - New Form W–4 for 2004.
- Advance Payment of Earned Income Credit
- Reporting and Paying Social Security, Medicare, and Withheld Income Taxes
  - Electronic Federal Tax Payment System (EFTPS).
- Federal Unemployment (FUTA) Tax
  - Reporting and Paying FUTA Tax
Retirement Plans
- Important Changes for 2003
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Individual Retirement Arrangement (IRA)
- Simplified Employee Pension (SEP)
- SIMPLE Retirement Plans
  - SIMPLE IRA Plan
- Qualified Plan
Excise Taxes
- Important Reminders
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- Fuels Used in Farming
- How To Buy Diesel Fuel and Kerosene Tax Free
- Fuels Used in Off-Highway Business Use
- Fuels Used for Household Use
- How To Claim a Credit or Refund
- Including the Credit or Refund in Income
Your Rights as a Taxpayer
- Useful Items - You may want to see:
- Declaration of Taxpayer Rights
- Examinations, Appeals, Collections, and Refunds
Sample Return
- Preparing the Return
How To Get Tax Help
Publication 225 - Additional Material
Index

Publications Index | 2003 Tax Help Archives | Tax Help Archives | Home

© 2005, UncleFed.com