Farm Income from a state that I don't live in.

Inherited farm this year (Illinois) and moving to Missouri or Kansas next year. Implications for near and long term taxes for the farm income? I am currently retired, not collect SS yet.

AnnieK
Employee Tax Expert

Get your taxes done using TurboTax

Hi Steve1111,

Thank you for your question.

 

Income from Farming will be reported on Schedule F on your Federal tax return, Form 1040.

Please refer to Publication 225 - Farmer's Tax Guide https://www.irs.gov/publications/p225 

 

Since the farm is located in another state, you would need to prepare a tax return for your non-resident state and for your resident state.    

 

Have a great day!

 

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