Solved: How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?
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How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?

Our farm business got a 1099-G with a box 6 taxable grant. I've found answers about how to enter a 1099-G in the personal income section, but when I try to enter it as income for the farm business I have two problems. First, the software is defaulting to an individual name and SSN for the payee and I its not letting me change it in either EasyStep or directly in the Form. Second, in EasyStep there is no option for box 6 and when I put an amount in box 6 directly on the Form it doesn't get picked up as income when I go back to EasyStep.

Thanks!

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Level 14

How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?

According to the instructions for Form 1099-G, box 6, since the grant relates to an activity for which you are required to file Schedule F, do not enter the amount on the 1099-G  entry form.  Instead, report the taxable amount as income on the applicable Schedule F.

 

You can enter this income using these steps:

  1. While in your return click Business > Continue > I'll choose what I work on.
  2. On the screen, Let's gather your business info, click on the Update box next to Farm Income and Expenses.  
  3. On the Farm Summary, click Edit next to your farm name. 
  4. On the next screen, Your Farming Income and  Expenses, in the Farm Income section, click on the Start/Update box next to Other farm income.  
  5. Enter the amount in Form 1099-G, box 6 on the next screen, Any Other Income or Credits?  



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Level 14

How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?

According to the instructions for Form 1099-G, box 6, since the grant relates to an activity for which you are required to file Schedule F, do not enter the amount on the 1099-G  entry form.  Instead, report the taxable amount as income on the applicable Schedule F.

 

You can enter this income using these steps:

  1. While in your return click Business > Continue > I'll choose what I work on.
  2. On the screen, Let's gather your business info, click on the Update box next to Farm Income and Expenses.  
  3. On the Farm Summary, click Edit next to your farm name. 
  4. On the next screen, Your Farming Income and  Expenses, in the Farm Income section, click on the Start/Update box next to Other farm income.  
  5. Enter the amount in Form 1099-G, box 6 on the next screen, Any Other Income or Credits?  



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Level 1

How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?

I had the same problem with the Farm Rental Form 4835.  When you try to enter 1099G data it doesn't let you enter box 6.  If you follow the procedure above to enter it in Other Income, it says "Other Income not reported on 1099Misc or 1099G."  So, it is not appropriate to enter the data from box 6 in Other Income.  Do you just go ahead and put it there anyway?

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Level 15

How do I properly enter info for a taxable grant reported to my farm business (LLC, own EIN) on a 1099-G?

The fact your farm may be registred as an LLC is irrelevant. Farm income is reported on SCH F.  As you start the SCH F section of the program, you ***MUST*** select the option to indicate you have income reported on a 1099-MISC or 1099-G. Then press on through the program. Screen shot below.

Farm 1099-G.png

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