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Steve1111
Level 1

Farm Income from a state that I don't live in.

Inherited farm this year (Illinois) and moving to Missouri or Kansas next year. Implications for near and long term taxes for the farm income? I am currently retired, not collect SS yet.

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Accepted Solutions
AnnieK
Employee Tax Expert

Farm Income from a state that I don't live in.

Hi Steve1111,

Thank you for your question.

 

Income from Farming will be reported on Schedule F on your Federal tax return, Form 1040.

Please refer to Publication 225 - Farmer's Tax Guide https://www.irs.gov/publications/p225 

 

Since the farm is located in another state, you would need to prepare a tax return for your non-resident state and for your resident state.    

 

Have a great day!

 

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

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1 Reply
AnnieK
Employee Tax Expert

Farm Income from a state that I don't live in.

Hi Steve1111,

Thank you for your question.

 

Income from Farming will be reported on Schedule F on your Federal tax return, Form 1040.

Please refer to Publication 225 - Farmer's Tax Guide https://www.irs.gov/publications/p225 

 

Since the farm is located in another state, you would need to prepare a tax return for your non-resident state and for your resident state.    

 

Have a great day!

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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