We had a small amount of farm rental income. We did not materialy participate in any of the farming, we just rented the land. Where and what form/line does this get reported? Thanks
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Farm Income Reported Where?
Mar 30, 2007
5 Replies
First reply
Use Form 4835. farm rental income from Form 4835, line 32 gets carried to Schedule E, lines 40 and 41 (Part V), and from there to Form 1040, line 17. Lorca
Read the full reply
Use Form 4835.
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The farm rental income from Form 4835, line 32 gets carried to Schedule E, lines 40 and 41 (Part V), and from there to Form 1040, line 17.
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Frederick Lorca
If you just rented the land, report it on Schedule E. You can include expenses incurred with the rental, e.g. property tax, to reduce the amount of tax you will owe on the income.
if is share rent form 4835 if is cash rent then schedule E
Perfect. Thanks for the help.
Perfect. Thanks for the help.
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