KarenM90
Intuit Alumni

Business & farm

If you are just transferring (manually) everything from 4835 to a Schedule F, you should "end" the Farm Rental on Schedule 4835.

 

Follow these instructions:

 

If you've filed Form 4835 in the past on the income from this land, then it needs to be reported as a sale of business property, you can "sell" it with -0- gain or loss if appropriate for this situation.

  1. Go to your Business tab. 

  2. Click Continue

  3. Select I'll choose what I work on. 

  4. Click Start or Update by Farm Rental Income and Expenses. 

  5. Click by your farm name OR set it up. 

  6. On the Tell us about your farm page, check I sold or otherwise disposed of this farm during 2019.  

  7. Continue till you get back to Your Farming Income and Expenses

  8. Continue till you get back to Let's gather your business info

  9. Scroll down to Less Common Expenses

  10. Select Start or Update by Sale of Business Property

  11. Select Sales of business or rental property that you haven't already reported. 
    (This includes certain farmland, mineral, or conservation property.) on Any Property Sales? 

  12. On the Sales of Business or Rental Property page, enter the info from the sale. 

  13. Depending on your answers, you'll have a few follow up questions. 

  14. Click Continue till you get back to Farm Rental Income and Expenses

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