Farm Rental Income

[cjapooh]

My husband was gifted his dad's portion of the family farm in 2015.  His cousin farms on the land and pays us rent to farm on the land.  We received a 1099-MISC from his cousin.  Do we need to apply for an EIN?

[Cattlerancher · Accepted solution]

No, you do not need an EIN unless you hire employees.

Please note; If you receive a 1099-MISC with an amount in box 1 for rental income, you report this income in Rental Properties and Royalties (schedule E). Be sure to include any expenses associated with this income (RE taxes, insurance, etc.)

Farm Rental Income (form 4835) is only used when you receive a percentage of the crop as rental income, known as "share cropping".

Please see page snip below;

[Piper8730]

I do not have a farm or any farm income.  The walk-through question portion shows yes for farm and wants an income.  End up with an error on final checking of my tax information.  How do I get rid of this???

[schmidb]

I am the landlord for a farm, and split income and expenses with my tenants.  I file Form 4835.  It is asking for an EIN, and won't let me e-file without an EIN.  I do not have any employees or hire any labor for the farm rental.  I don't want an EIN.  But turbotax says I can't e-file without an EIN.  I guess I will have to file on paper, even though I have already purchased the state e-file fees.  

[DavidD66]

I don't know why you're being asked for an EIN.  You only need an EIN if you had a qualified retirement plan or were required to file an employment, excise, estate, trust, partnership, or alcohol, tobacco, and firearms tax return.  Try entering your social security number and see if it will let you e-file.