topic Does the rent reported on my 1099-misc count as farm rental income or real estate income? A solar company paid to research to see if our land is suitable for a project in Investors & landlords

Does the rent reported on my 1099-misc count as farm rental income or real estate income? A solar company paid to research to see if our land is suitable for a project

karenbowyer0343 — Sun, 29 Mar 2020 16:54:26 GMT

Re: Does the rent reported on my 1099-misc count as farm rental income or real estate income? A s...

JamesG1 — Sun, 29 Mar 2020 17:50:28 GMT

Assuming that the 1099-Misc is reporting income in box 1, the income can be reported on either IRS form 4835 Farm Rental Income and Expenses line 6 or 1040 Schedule E Supplemental Income and Loss.

Either form will allow you to deduct expenses related to the income received.

Re: Does the rent reported on my 1099-misc count as farm rental income or real estate income? A s...

roeth2147 — Sun, 09 May 2021 14:36:24 GMT

My Home and Business version won't let me report a 1099 MISC for Farm rental income in the Farm Income section. It always refers me to the Rental Property section. If/when I do that, where do I report my farm expenses?

Re: Does the rent reported on my 1099-misc count as farm rental income or real estate income? A s...

Carl — Sun, 09 May 2021 19:21:17 GMT

My Home and Business version won't let me report a 1099 MISC for Farm rental income in the Farm Income section.

That actually comes as no surprise, since you stated you were paid the money for research, and not for farming activity. I actually wonder if you have to file a SCH E at all.

What exactly was the rent paid for? The use of a structure? The use of land only? Something else?

For what period of time was the rent paid? One day? One week? One month? Something else?

Are you "in the business" of renting real estate on a continuing and/or recurring basis?

Re: Does the rent reported on my 1099-misc count as farm rental income or real estate income? A s...

roeth2147 — Mon, 10 May 2021 13:59:52 GMT

I have a farm which I rented to another farmer at a fixed amount and for a period of 1 year. He does the actual farming, I do not. But, I also have expenses associated with the buildings on the farm, such as insurance, taxes, utilities, etc. So if I enter the rental income as income from rental property, then do I also enter all expenses in the same section or leave it in the. farm expenses section.?