turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I have farm rental income. I've inadvertently entered it twice. It's correct in Rental Properties. How can I take it out of Farm Income and Rental?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
PatriciaV
Employee Tax Expert

I have farm rental income. I've inadvertently entered it twice. It's correct in Rental Properties. How can I take it out of Farm Income and Rental?

If you entered the Farm Rental Income under Schedule E, you need to delete that Rental Property. The IRS expects Farm Rental Income to be reported on Form 4835, which is created under the Farm Rental section of TurboTax.

 

The easiest way to find Schedule E in TurboTax Online is to find Tax Tools in the left column >> Tools >> Topic Search. Type in "schedule e", click the topic in the list, then Go. In TurboTax Desktop, use the Search box or Topic List found in the header.

 

  1. Continue to the list of Rental Properties.
  2. Click Delete (trashcan icon) beside the property for your farm income.
  3. Confirm the deletion.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have farm rental income. I've inadvertently entered it twice. It's correct in Rental Properties. How can I take it out of Farm Income and Rental?

I really appreciate your response.  After I wrote the question, I eventually figured how to take it out of Farm Rental Income and then everything looked better.  But I still haven't filed, so I could still try to change it.  I entered it into Farm Rental Income initially because it logically looked like that's where it should go.  But I have expenses to deduct from that income (insurance and property taxes) and when I entered those -- perhaps in the wrong place -- then they didn't connect up with the farm income.  Is there a place to enter expenses in Farm Income?  If so, maybe I should delete everything I have so far and start over on form 4835.  ***  I looked back to last year, and I reported my farm rental and expenses all on Schedule E last year.  *** Also, I have different farm rental income through an LLC, reported on a K-1, and when I enter that it falls into the Schedule E.  So if I report my personal farm rental on Schedule E it keeps all of my farm rental together.  ***  So now I'm not sure what I should do. 

PaulaM
Employee Tax Expert

I have farm rental income. I've inadvertently entered it twice. It's correct in Rental Properties. How can I take it out of Farm Income and Rental?

The correct form selection depends on what your farm rental income is derived from.

Schedule E is for landowners who lease their pastures or farmland for a fixed rental amount.
Form 4835 is for landowners who lease their farmland to a co-op operation (production of grain, livestock, etc.)  that you did not material participate in. 

 

Both forms are used to report farm rental income and the expenses associated with that income. 
 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I have farm rental income. I've inadvertently entered it twice. It's correct in Rental Properties. How can I take it out of Farm Income and Rental?

Thank you for that clarification.  I'm going to go ahead and leave my entries in Schedule E, as that is what best describes my situation.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question