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Question

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?

Forum|Forum|7 years ago
June 3, 2019
1 reply
15 views

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

TurboTax Premier Online

Level 15

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.