U.S. · Tax forms
Schedule F line 34, net farm profit or loss.
Line 9 minus line 33, and where the result is reported.
Line 34 is the “Net farm profit or (loss)”: line 9 (gross income) minus line 33 (total expenses). For individuals, enter it on Schedule 1 (Form 1040), line 6 and Schedule SE, line 1a. If it is a loss, complete line 36 first.
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Result
How line 34 is built and reported (2025 instructions and form)
| Item | Meaning | What the IRS says |
|---|---|---|
| Line 9 | Gross income | Add the right column of Part I; if you use the accrual method, enter the amount from Part III, line 50 |
| Line 33 | Total expenses | Add lines 10 through 32f |
| Line 34 | Net farm profit or (loss) | Subtract line 33 from line 9 |
| Line 35 | Reserved for future use | Nothing to enter |
| Line 36 | Investment box | Complete if line 34 is a loss: 36a all investment at risk, 36b some not at risk |
| Individuals | Where it goes | Schedule 1 (Form 1040), line 6, and Schedule SE (Form 1040), line 1a |
| Partnerships | Where it goes | Form 1065, line 5 |
A loss is not always line 9 minus line 33
If line 33 is more than line 9, the instructions say not to enter the loss on line 34 until you have applied the at-risk rules and the passive activity loss rules (see line 36 and the Instructions for Form 8582). After those rules, the line 34 loss may be smaller than the subtraction. You may also have to file Form 461, which limits the allowable loss.
Prior-year passive losses
If line 9 is more than line 33 and you have prior-year unallowed passive activity losses, do not enter the net profit until you have used Form 8582 to figure the amount you may claim. Enter “PAL” to the left of the entry space to show it. If you checked “No” on line E, the instructions say you may need Form 8582 even with a net profit.
Self-employment tax link
Because the profit goes on Schedule SE, line 1a, it is part of what self-employment tax is figured on. The Schedule F instructions note that you cannot deduct self-employment tax as a tax on line 29, but you can deduct one-half of it on Schedule 1 (Form 1040), line 15.
Worked example
Ruiz Farms has gross income of $85,000 on line 9 and total expenses of $61,500 on line 33. Line 34 is $23,500. As an individual, the owner enters it on Schedule 1, line 6 and Schedule SE, line 1a. Names and figures are made up.
More line pages in this set
Related lines: Schedule F Line 36, Schedule F Line 29.
Sources
- Instructions for Schedule F (Form 1040) (2025): Line 34 and Line 36 instructions, plus the line 29 self-employment tax note. Page last reviewed or updated April 30, 2026. Read November 2, 2026.
- Schedule F (Form 1040) (2025): The printed line 9, 33 to 36 wording and arithmetic. Read November 2, 2026.
Tax year 2025 instructions (page last reviewed or updated April 30, 2026). The line labels were read from the Schedule F (Form 1040) PDF the IRS had posted on the date read, which is the 2025 edition; line numbers can shift between years, so check them against the form for your tax year. Names and figures in worked examples are made up.
Frequently asked questions
What is Schedule F line 34?
The net farm profit or (loss): line 9 gross income minus line 33 total expenses.
Where does a farm profit go?
For individuals, the instructions say to enter it on Schedule 1 (Form 1040), line 6, and Schedule SE (Form 1040), line 1a.
What if line 34 is a loss?
The form says to complete line 36. The at-risk and passive activity loss rules may reduce the loss before you enter it on line 34, and Form 461 may limit it.
What is line 35?
It is marked “Reserved for future use” on the form.
Where do partnerships report it?
The instructions say partnerships enter the net profit or loss on line 34 and on Form 1065, line 5.
Not tax advice
This page summarizes IRS instructions, mostly written for the people who prepare the form, and is not tax, legal or financial advice. A CPA or an enrolled agent can confirm what a line means for your return. Everything runs in your browser; nothing you enter is sent anywhere.