JamesG1
Expert Alumni

Business & farm

@gageh1990

 

This delay is being caused by the Covid-19 pandemic and year end tax revisions.

 

The Consolidated Appropriations Act, 2021 was signed into law on December 27, 2020.  The legislation includes $900 billion for various COVID-19 relief programs, government funding of $1.4 trillion and many, many tax provision changes.

 

IRS Form 4835 Farm Rental Income will be available February 25 according to forms availability.

 

If you are involved in Renting a Farm or Farmland, you should report the income and expenses related to that activity on Form 4835, Farm Rental Income and Expense. However, if you are in the trade or business of farming, you must complete and file Schedule F, Profit or Loss from Farming, along with your IRS Form 1040.

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