Farm self-employment income
Net money income (gross receipts minus operating expenses) received from the operation of an unincorporated farm by a person on his own account, as an owner, renter, or sharecropper. Gross receipts include the value of all products sold, governmental subsidies, money received from the rental of farm equipment to others, and incidental receipts from the sale of wood, sand, gravel, etc. Operating expenses include the cost of fuel, fertilizer, seed, and other farming supplies, cash wages paid to farmhands, depreciation charges, cash rent, interest on farm mortgages, farm building repairs, farm taxes (not Federal, State, and local income taxes), etc. The value of fuel, food, and other farm products used for family living is not included as part of net income.