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Farm income vs. rental income

We have a small place in the country that we rent out some of the acres. Do we put this under farm rental or under rental properties? Shouldn't property taxes be deductible? Under farm rental there is no place for property taxes.
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2 Replies
KrisD
Intuit Alumni

Farm income vs. rental income

This is a rental.

Farm income is for crop and livestock income.

Farm income vs. rental income

"Farm Rental Income and Expenses" (form 4835) is only used when you receive a percentage of the crop as rental income, (share crop income). "Rental Properties and Royalties" (schedule E) is used when you receive a monetary payment as rental income, even from a farm.

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