As posted, an easement lowers the basis in the property.
Please go to your rental or farming section and select
"Sale of Property/Depreciation"
Select Yes, I want to go to my asset summary
Click Edit next to the asset which includes the land (this would most likely be the building asset)
Select Real Estate Property
Continue until you can edit the land cost and subtract the amount of the easement
If you received a 1099-MISC, you can enter that as Farm/Rental income, then subtract it out as an expense.
Mark it separate as a miscellaneous expense and title it "EASMENT REDUCED BASIS" so that it can be traced.
If you received a 1099-S, you can enter it on your personal side, then "zero it out" but it might be temperamental. You can enter the AMOUNT as Farm/Rental income and expenses it out, but there is no way to actually enter the 1099-S as income on the farm/Rental screens.
Keep the form with your tax file.
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