My one neighbor who is now deceased filed a schedule F every year but had tremendous off farm income which predated his farming efforts. He always bought equipment of which the depreciation or Section 179 expense zeroed out his taxable income. He was the favorite customer of the local NH dealer as he was always buying new iron. Rhetorically, I would consider him a hobby farm as his non-farm career came first and if push came to shove he would continue his non-farm career over the farm. His farm as it was would not have existed without the off farm income. But with all the money he had to throw around nobody would ever call him a hobby farmer as he would cross the street for business if you offended him. He was far from the only one that built a farm business from non farm income around these parts. I would say that the only ones doing things around here are doing so because they have off farm investors or income to work with.
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