If you receive cash payments for the rental of farmland, then you do report the activity on Schedule E. If your return shows depreciation, then you have entered a depreciable asset in the return. Does the farmland rental also include the rental of a building or farm equipment?
If you have a rental property that is reported on Schedule E, you would list the rental property as an asset and answer questions regarding the purchase date, amount, etc. for purposes of calculating depreciation.
If you only enter income and expenses in a business or rental and don't complete the assets section, then depreciation won't be calculated.
Review the Assets section under Rental to see what is being depreciated.
See this TurboTax tips article for more information on rental of real property.
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