Farm income and losses of U.S. farm sole proprietors reported for tax purposes, 1999–2019

$ billion

Line and stacked bar combo chart with 1 line and 2 bars per group.

Line 1, Net farm income.
Point 1, 1999 is -6.2.
Point 2, 2000 is -9.
Point 3, 2001 is -11.
Point 4, 2002 is -14.4.
Point 5, 2003 is -12.3.
Point 6, 2004 is -13.2.
Point 7, 2005 is -12.2.
Point 8, 2006 is -15.3.
Point 9, 2007 is -19.
Point 10, 2008 is -14.9.
Point 11, 2009 is -14.1.
Point 12, 2010 is -11.7.
Point 13, 2011 is -9.6.
Point 14, 2012 is -5.5.
Point 15, 2013 is -7.8.
Point 16, 2014 is -8.3.
Point 17, 2015 is -14.
Point 18, 2016 is -17.7.
Point 19, 2017 is -19.2.
Point 20, 2018 is -23.4.
Point 21, 2019 is -23.8.
Bar 1, Income from farming.
Point 1, 1999 is 9.2.
Point 2, 2000 is 8.3.
Point 3, 2001 is 7.7.
Point 4, 2002 is 6.3.
Point 5, 2003 is 7.5.
Point 6, 2004 is 7.4.
Point 7, 2005 is 8.5.
Point 8, 2006 is 7.7.
Point 9, 2007 is 5.6.
Point 10, 2008 is 11.7.
Point 11, 2009 is 11.6.
Point 12, 2010 is 12.3.
Point 13, 2011 is 14.6.
Point 14, 2012 is 18.2.
Point 15, 2013 is 17.3.
Point 16, 2014 is 16.3.
Point 17, 2015 is 13.5.
Point 18, 2016 is 11.5.
Point 19, 2017 is 11.2.
Point 20, 2018 is 10.8.
Point 21, 2019 is 10.9.
Br 2, Losses from farming.
Point 1, 1999 is -15.4.
Point 2, 2000 is -17.3.
Point 3, 2001 is -18.7.
Point 4, 2002 is -20.7.
Point 5, 2003 is -19.8.
Point 6, 2004 is -20.6.
Point 7, 2005 is -20.7.
Point 8, 2006 is -23.
Point 9, 2007 is -24.6.
Point 10, 2008 is -26.6.
Point 11, 2009 is -25.7.
Point 12, 2010 is -24.
Point 13, 2011 is -24.2.
Point 14, 2012 is -23.7.
Point 15, 2013 is -25.1.
Point 16, 2014 is -24.6.
Point 17, 2015 is -27.5.
Point 18, 2016 is -29.2.
Point 19, 2017 is -30.4.
Point 20, 2018 is -34.2.
Point 21, 2019 is -34.7.

Note: Net farm income is calculated as income from farming minus losses from farming.
Source: USDA, Economic Research Service using data from Internal Revenue Service, Statistics of Income, taxable profits and losses from farming, Schedule F (Form 1040).