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cjb628
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We sold our farm in 2015 but I am still having to answer questions on a Schedule F for our four wheeler we used when we had the farm. Curious why?

 
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We sold our farm in 2015 but I am still having to answer questions on a Schedule F for our four wheeler we used when we had the farm. Curious why?

Go into the asset input screen for your Schedule F:

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

2.  Click Income & Expenses across the top.

3.  Scroll down to Rentals, Royalties, and Farm and click Show more.

4.  Click Start or Revisit by Farm Income and Farm Rental.

Return to the Asset section and enter the date you stopped using the asset for business.

If asked, you should also report that the sales price was zero (since you didn't sell it).

Completing those two questions should remove the asset from your farm and clear out any future questions.

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1 Reply

We sold our farm in 2015 but I am still having to answer questions on a Schedule F for our four wheeler we used when we had the farm. Curious why?

Go into the asset input screen for your Schedule F:

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

2.  Click Income & Expenses across the top.

3.  Scroll down to Rentals, Royalties, and Farm and click Show more.

4.  Click Start or Revisit by Farm Income and Farm Rental.

Return to the Asset section and enter the date you stopped using the asset for business.

If asked, you should also report that the sales price was zero (since you didn't sell it).

Completing those two questions should remove the asset from your farm and clear out any future questions.

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