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Farm Income Expense - Pension and Profit-Sharing Plans

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Farm Income Expense - Pension and Profit-Sharing Plans


Enter your deduction for contributions to employee pension, profit-sharing, or annuity plans. If the plan included you as a self-employed person, enter contributions made as an employer on your behalf on Form 1040, not on Schedule F.

Generally, you must file the applicable form listed below if you maintain a pension, profit-sharing, or other funded-deferred compensation plan. The filing requirement is not affected by whether or not the plan qualified under the Internal Revenue Code, or whether or not you claim a deduction for the current tax year. There is a penalty for failure to timely file these forms.

Form 5500 

File this form for a plan that is not a one-participant plan (see below).

Form 5500-EZ 

File this form if you have a one-participant plan that meets certain requirements. A one-participant plan is a plan that only covers you (or you and your spouse).

For details, see Pub. 560.

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Views: 947 Created on: Jun 15, 2013
Date updated: Dec 05, 2019

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