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Last year, I entered my out-of-state farm income under "Farm Income and Farm Rental". This year it appears I should use Schedule E.

 
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2 Replies
KarenM90
Intuit Alumni

Last year, I entered my out-of-state farm income under "Farm Income and Farm Rental". This year it appears I should use Schedule E.

TurboTax will walk you through the steps and decide if you should be using Form 4835 or Schedule E, but generally you will use:  

  • Schedule E, if you are receiving fixed cash payments for rent; OR
  • Form 4835, if you received a share of the production as rent.  

If you used Form 4835 last year, but need to switch over to schedule E for 2019, be sure to "sell" the Form 4835 to end that reporting schedule.  (You can sell it at -0- so you are not recognizing a gain or loss, then transfer any assets over to the Schedule E manually.)

 

 

 

 

 

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Last year, I entered my out-of-state farm income under "Farm Income and Farm Rental". This year it appears I should use Schedule E.

Thank you.

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