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Can I have a business with no business income?

Yes. If your deductible expenses from operating your farm are more than your farm income from the tax year, your farm business operated at a net loss.

That said, the amount of loss you can deduct from your farm income may be limited. We can help you figure out what counts and what doesn’t. You can also read here to learn more.

Still have questions? Contact member support

Continue your tax filing

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