Farm income & SE tax sketch — EA Part 2 Widgets

What this does

How to read it Visual: income vs expense bars and the SE slice of profit.

Sketch Schedule F net farm profit and a simple self-employment tax estimate (92.35% × 15.3%).

Visual: income vs expense bars and the SE slice of profit.

Schedule F sketch

Sales of livestock / produce / other Custom hire income Co-op distributions / ag program payments Feed / seed / fertilizer / chemicals Labor hired Depreciation / §179 (farm) Other deductible expenses

Net farm profit

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SE tax sketch uses 92.35% × 15.3% of profit (teaching).

Income · expense · profit · SE tax

Net farm profit

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SE tax sketch (92.35% × 15.3%)

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Deductible ½ SE

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Exam trap: Farm optional methods / Schedule J income averaging appear on specialized items. Crop insurance / disaster payments have timing elections. SE tax generally applies to farm sole props; partnerships allocate SE to general partners.

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Study tool only — not official IRS software. Figures labeled 2025 track law/forms through Dec 31, 2025. Confirm against current IRS pubs before the exam.