- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Unfortunately TurboTax can't provide all the information and answers to everyone's different tax situation but they try hard. TurboTax is a do-it-yourself tax program and sometimes requires us to do our own research. I am including a paragraph from IRS publication 225 about CRP income.
Conservation Reserve Program (CRP)
Under the Conservation Reserve Program (CRP), if you own or operate highly erodible or other specified cropland, you may enter into a longterm contract with the USDA, agreeing to convert to a less intensive use of that cropland. You must include the annual rental payments and any onetime incentive payment you receive under the program on Schedule F, lines 4a and 4b. Costshare payments you receive may qualify for the costsharing exclusion. See Cost-Sharing Exclusion (Improvements), later. CRP payments are reported to you on Form 1099G.
Individuals who are receiving Social Security retirement or disability benefits may exclude CRP payments when calculating self-employment tax. See the instructions for Schedule SE (Form 1040).
Conservation Reserve Program (CRP)
Under the Conservation Reserve Program (CRP), if you own or operate highly erodible or other specified cropland, you may enter into a longterm contract with the USDA, agreeing to convert to a less intensive use of that cropland. You must include the annual rental payments and any onetime incentive payment you receive under the program on Schedule F, lines 4a and 4b. Costshare payments you receive may qualify for the costsharing exclusion. See Cost-Sharing Exclusion (Improvements), later. CRP payments are reported to you on Form 1099G.
Individuals who are receiving Social Security retirement or disability benefits may exclude CRP payments when calculating self-employment tax. See the instructions for Schedule SE (Form 1040).
June 6, 2019
2:43 AM