If I purchased cows in 2019 but have not made any income off them yet do I still need to file a 1040 schedule F form?

[LinaJ2020]

It depends.  Per IRS, only farmers who operate as a business are required to file Schedule F. To be considered a business, you must be engaged in farming for profit. This means that you've made money in at least three of the last five tax years, or two out of seven years for breeding or raising horses.

For more information, click here:

https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-schedule-f-profit-or-loss-from-far...