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

Steve1111 · ‎July 28, 2021

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.

AnnieK · ‎July 28, 2021

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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View solution in original post

AnnieK · ‎July 28, 2021

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