My trust rents Pasture land and Crop land. Using TT Business 2022 I entered income & expenses for Pasture land using 'step-by-step' and it populates Sched E OK. But using 'step-by-step' won't let me see the 2nd Sched E for Crop income & expenses nor the Sched E Farm Worksheet (I have to manually enter data in the tax forms). Any ideas how I can use 'step-by-step' for both?
Understood. However, note that even a simple Schedule C must be prepared in Forms Mode for a 1041; there is no Step-by-Step for that form.
There have been a plethora of enhancement requests over the years, but not much has changed. I would not hold out much hope for the future either as it appears as if the model may be to transition to "assisted" or full service.
Thans for your prompt response. Yes, I went thru the 'step-by-step' to enter a fake farm rental but it never asked me if it's a farm asset. So that was no help. Is there a 'secret' to tell 'step-by-step' that the rental is a farm asset that needs to use the Farm Worksheet?
@rmfrog1 wrote:
Is there a 'secret' to tell 'step-by-step' that the rental is a farm asset that needs to use the Farm Worksheet?
No, unfortunately. Anything that has to do with a farm (Farm rental or business) has to be entered in Forms Mode.
Not having 'step-by-step' for farm stuff is very unfortunate since the 's-by-s' does a great job of verifying and validating. This needs to be worked and added into a future release of Business. How do I make that suggestion or request that update? Have other TT users requested this sort of enhancement? I would think that there is a large audience for this enhancement. Thanks, again, for your prompt response. I will 'close' this item....R
Understood. However, note that even a simple Schedule C must be prepared in Forms Mode for a 1041; there is no Step-by-Step for that form.
There have been a plethora of enhancement requests over the years, but not much has changed. I would not hold out much hope for the future either as it appears as if the model may be to transition to "assisted" or full service.