I now have a farm that my parents owned. I share crop it and meet the active participation test but not the "material" participation test. I use form 4835 to report the income. Last year there was a net loss for the farm which I can't use even though I have active participation because of the level of my other income. In fact, I don't expect to ever be able to use it aginst earned income. The farm does make money year after year but did not last year because of how I sold the product. I WILL be able to use these losses against the income from the farm in the future, right? Thanks in advance.
Dane
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