Using the Home & Business Edition For Tax Year 2016, where do I enter the amount for Fed. Form 1040, Schedule F, line 4b, Agricultural program payments, Taxable amount?

Forum|Forum|7 years ago
June 6, 2019
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Best answer by Cattlerancher

In TurboTax H&B, this entry is a bit confusing. After entering your payment in the Farm Income section under "Payments from Government reported on 1099-G" you need to review that same entry under the "Ag Programs" interview. This interview will report the taxable income and any excluded from federal income tax or SE tax.

It can also be done in the forms mode;

When you receive a 1099-G for an agricultural payment and enter it in the step by step mode, TurboTax places the about on line 4a only. Then you must review "Ag Programs" as described above OR in the forms mode, you can manually enter the taxable amount in one or two more places.

1. The taxable amount is entered on the far right hand column, line 4b.

2. If you receive social security or disability benefits, enter any CPR payments included on line 4b in the next line down, center column, in this forms mode. Instructions are there. This line entry removes only Self Employment tax from that amount, on schedule SE.

C

CattlerancherAnswer

Level 7

In TurboTax H&B, this entry is a bit confusing. After entering your payment in the Farm Income section under "Payments from Government reported on 1099-G" you need to review that same entry under the "Ag Programs" interview. This interview will report the taxable income and any excluded from federal income tax or SE tax.

It can also be done in the forms mode;

When you receive a 1099-G for an agricultural payment and enter it in the step by step mode, TurboTax places the about on line 4a only. Then you must review "Ag Programs" as described above OR in the forms mode, you can manually enter the taxable amount in one or two more places.

1. The taxable amount is entered on the far right hand column, line 4b.

2. If you receive social security or disability benefits, enter any CPR payments included on line 4b in the next line down, center column, in this forms mode. Instructions are there. This line entry removes only Self Employment tax from that amount, on schedule SE.