Yes, you will report the raising of the livestock on Schedule F of your individual return and if the farm land rental is for a flat amount of cash, then it would be reported on Sch E. It would be treated as if it were two businesses if you are paid in cash for the rent and not in crop shares.
Use Form 4835 to report rental income based on crop or livestock shares produced by a tenant if you didn't materially participate in the management or operation of a farm.
If you simply rent your pasture or other farm real estate for a flat cash amount without providing services, report the income as rent on Schedule E (Form 1040), Part I.
Crop Shares
You must include rent you receive in the form of crop shares in income in the year you convert the shares to money or the equivalent of money. It doesn't matter whether you use the cash method of accounting or an accrual method of accounting.
If you receive rent in the form of crop shares or livestock, the rental income is included in self-employment income if:
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Your arrangement with your tenant provides that the you will materially participate in the production or management of production of the farm products on the land, and
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You materially participate.
See Landlord Participation in Farming in chapter 12. Report the rental income on Schedule F.
Report this income on Form 4835 and carry the net income or loss to Schedule E (Form 1040), page 2, if:
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Your arrangement with your tenant doesn’t provide that you will materially participate in the production or management of production of the farm products on the land, or
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You don't materially participate in operating the farm.
The income isn't included in self-employment income.
Please refer to this link for additional information:
IRS Publication 225 for farmers
