2003 HTML Instructions for Schedule F (Form 1040),

This is archived information that pertains only to the 2003 Tax Year. If you
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Table of Contents

Other Schedules and Forms You May Have To File

Schedule E to report rental income from pastureland that is based on a flat charge. Report this income in Part I of Schedule E. But report on line 10 of Schedule F pasture income received from taking care of someone else's livestock.
Schedule J to figure your tax by averaging your farm income over the previous 3 years. Doing so may reduce your tax.
Schedule SE to pay self-employment tax on income from your farming business.
Form 4562 to claim depreciation on assets placed in service in 2003, to claim amortization that began in 2003, to make an election under section 179 to expense certain tangible property, or to report information on vehicles and other listed property.
Form 4684 to report a casualty or theft gain or loss involving farm business property including livestock held for draft, breeding, sport, or dairy purposes.

See Pub. 225 for more information on how to report various farm losses, such as losses due to death of livestock or damage to crops or other farm property.
Form 4797 to report sales, exchanges, or involuntary conversions (other than from a casualty or theft) of certain farm property. Also use this form to report sales of livestock held for draft, breeding, sport, or dairy purposes.
Form 4835 to report rental income based on farm production or crop shares if you did not materially participate (for self-employment tax purposes) in the management or operation of the farm. This income is not subject to self-employment tax. See Pub. 225.
Form 8824 to report like-kind exchanges.

Heavy Highway Vehicle Use Tax. If you use certain highway trucks, truck-trailers, tractor-trailers, or buses in your farming business, you may have to pay a Federal highway motor vehicle use tax. See the Instructions for Form 2290 to find out if you owe this tax.

Information Returns. You may have to file information returns for wages paid to employees, certain payments of fees and other nonemployee compensation, interest, rents, royalties, annuities, and pensions. You may also have to file an information return if you sold $5,000 or more of consumer products to a person on a buy-sell, deposit-commission, or other similar basis for resale. For details, see the 2003 General Instructions for Forms 1099, 1098, 5498, and W-2G.

If you received cash of more than $10,000 in one or more related transactions in your farming business, you may have to file Form 8300. For details, see Pub. 1544.

Reportable Transaction Disclosure Statement. If you entered into a reportable transaction in 2003, you must use Form 8886 to disclose information if your Federal income tax liability is affected by your participation in the transaction. For more information, see Reportable Transaction Disclosure Statement in the Instructions for Schedule C on page C-1.

Estimated Tax

If you had to make estimated tax payments in 2003 and you underpaid your estimated tax, you will not be charged a penalty if both of the following apply.

Your gross farming or fishing income for 2002 or 2003 is at least two-thirds of your gross income.
You file your 2003 tax return and pay the tax due by March 1, 2004.

For details, see Pub. 225.