Should income from a farm (crops and rental from house) which is incorporated as a LLC be reported on K-1 or under 'Farm Income and Rental'?

[blasejk]

I do receive a K1

[CherylW · Accepted solution]

If you got a K-2 from the LLC, then enter it in the K-1 section, not the Farm Income and Rental section.

[blasejk]

regarding above reply - I received a K-1 not a K-2 from the LLC , is that treated the same?

[CherylW]

I am sorry,it should have sad K-1, not K-2.

To enter your K-1:

1.  Click Federal on the left-hand side menu.

2.  Click Income & Expenses across the top.

3.  Scroll down to S-corps, Partnerships, and Trusts and click Show more.

4.  Click Start or Revisit by Schedule K-1.