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posted Jun 3, 2019 10:28:25 AM

I rent out farm land. I receive rental income via a 1099, and I pay property taxes. I record this in the Rental Property section in Turbo Tax. Is this correct?

I have no other expenses.  Turbo Tax calculates the depreciation.

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1 Replies
Level 15
Jun 3, 2019 10:28:27 AM

Yes, you enter that in the Rental Property section in Turbo Tax (TT), if you are paid cash rent. The amount should be in box 1 of the 1099-Misc. When you enter at the 1099-Misc screen, TT will place it on schedule E.

You do not use form 4835 or schedule F. Schedule F is for farming businesses and Form 4835, Farm Rental Income and Expenses, is for a share cropping rental arrangement.

But, you have entered something wrong. farm land is not depreciated.