Farm income and losses of U.S. farm sole proprietors reported for tax purposes, 2000–21

Line and bar combo chart with 22 groups, 1 line and 2 bars per group.

Billion dollars

Group 1, 2000.
Bar 1, Losses from farming -17.3.
Bar 2, Income from farming 8.3.
Line 1, Net farm income -9.
Group 2, .
Bar 1, Losses from farming -18.7.
Bar 2, Income from farming 7.7.
Line 1, Net farm income -11.
Group 3, .
Bar 1, Losses from farming -20.7.
Bar 2, Income from farming 6.3.
Line 1, Net farm income -14.4.
Group 4, 2003.
Bar 1, Losses from farming -19.8.
Bar 2, Income from farming 7.5.
Line 1, Net farm income -12.3.
Group 5, .
Bar 1, Losses from farming -20.6.
Bar 2, Income from farming 7.4.
Line 1, Net farm income -13.2.
Group 6, .
Bar 1, Losses from farming -20.7.
Bar 2, Income from farming 8.5.
Line 1, Net farm income -12.2.
Group 7, 2006.
Bar 1, Losses from farming -23.
Bar 2, Income from farming 7.7.
Line 1, Net farm income -15.3.
Group 8, .
Bar 1, Losses from farming -24.6.
Bar 2, Income from farming 5.6.
Line 1, Net farm income -19.
Group 9, .
Bar 1, Losses from farming -26.6.
Bar 2, Income from farming 11.7.
Line 1, Net farm income -14.9.
Group 10, 2007.
Bar 1, Losses from farming -25.7.
Bar 2, Income from farming 11.6.
Line 1, Net farm income -14.1.
Group 11, .
Bar 1, Losses from farming -24.
Bar 2, Income from farming 12.3.
Line 1, Net farm income -11.7.
Group 12, .
Bar 1, Losses from farming -24.2.
Bar 2, Income from farming 14.6.
Line 1, Net farm income -9.6.
Group 13, 2012.
Bar 1, Losses from farming -23.7.
Bar 2, Income from farming 18.2.
Line 1, Net farm income -5.5.
Group 14, .
Bar 1, Losses from farming -25.1.
Bar 2, Income from farming 17.3.
Line 1, Net farm income -7.8.
Group 15, .
Bar 1, Losses from farming -24.6.
Bar 2, Income from farming 16.3.
Line 1, Net farm income -8.3.
Group 16, 2015.
Bar 1, Losses from farming -27.5.
Bar 2, Income from farming 13.5.
Line 1, Net farm income -14.
Group 17, .
Bar 1, Losses from farming -29.2.
Bar 2, Income from farming 11.5.
Line 1, Net farm income -17.7.
Group 18, .
Bar 1, Losses from farming -30.4.
Bar 2, Income from farming 11.2.
Line 1, Net farm income -19.2.
Group 19, 2018.
Bar 1, Losses from farming -34.2.
Bar 2, Income from farming 10.8.
Line 1, Net farm income -23.4.
Group 20, .
Bar 1, Losses from farming -34.7.
Bar 2, Income from farming 10.9.
Line 1, Net farm income -23.8.
Group 21, .
Bar 1, Losses from farming -34.8.
Bar 2, Income from farming 12.9.
Line 1, Net farm income -21.9.
Group 22, 2021.
Bar 1, Losses from farming -39.5.
Bar 2, Income from farming 13.3.
Line 1, Net farm income -26.2.

Note: Chart shows the total income from farming for farms that reported positive farm income, and total losses from farming for farms that reported negative farm income. Net farm income is the difference between aggregate income and losses from farming.

Source: USDA, Economic Research Service using data from the Internal Revenue Service, Statistics of Income Division, November 2023. Data are estimates based on samples of individual returns with taxable income and losses from farming on Schedule F (Form 1040).