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Deductions & credits
You enter your farm income (the IRS does consider horse boarding to be farm income) in the Wages & Income section (TurboTax desktop) or the Income & Expenses section (TurboTax online). Scroll down the page to Business Items and select Farm Income (TurboTax desktop) or select Rentals, Royalties, and Farm and select Farm Income and Farm Rental (TurboTax online).
Whichever above option applies to you, respond to the questions as prompted. If you have used TurboTax in prior years, your depreciation information should already be in TurboTax and will import into your current year return. If you have not used TurboTax previously, obtain a pdf copy of your prior year return so that you can upload such return into TurboTax.
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‎February 22, 2022
2:41 PM