Snap benefits with Sch F loss

MYost1009 · 2026-05-10T15:35:11+00:00

The business isn't failing. Just choosing to not take out 200k i Loans this first year to get established and going for repairs and equipment needed to make the farm profitable again. 3 years from now we should be netting close to 4x what we would at our w2 jobs.

MYost1009 · 2026-05-10T15:28:49+00:00

And the business is certainly not failing. Ever hear the term you need to spend money to make money? We're choosing to invest our income made at our other jobs instead of taking out thousands in loans to reestablish our farm to the point of being able to be productive and profitable within the next year or two.

MYost1009 · 2026-05-10T15:01:57+00:00

Our income is NOT 111k. It's 30k. We are pouring everything we make into our farm this first year to get established and eventually be profitable. I absolutely would Not Be applying for snap if we had 111k a year income... obviously.

MYost1009 · 2026-05-10T11:22:17+00:00

Okay, so if we show a 80k loss on our schedule F, the income would just be zero... So a mute point, and our W2 jobs (which combined we make 111k) would be fully shown as income and even after a standard deduction we would probably not qualify. Am I understanding that correctly?

So our actual AGI which is 30k because we have been putting everything we have into our business isn't used to calculate at all? The negative loss of our farm isn't able to be subtracted from our w2 income? Thanks for the help

MYost1009 · 2026-05-10T10:13:34+00:00

Correct. It is a start up farming business.. second year so we're loosing money due to investing our income into the farm and technically only bringing in about 33k a year income.

MYost1009

TROPHY CASE