You'll need to sign in or create an account to connect with an expert.
Thank you!
If a trust has farming and fishing income on the k-1 it would be in both box 6 and 14? That would come from line 42 of 1040 E? And that would in turn come from schedule F or form 4835? That would be for crop share and not cash rental?
Thank you!
Is the trust operating a farm? If it only receives cash rental from a farm it owns, it reports on Schedule E.
It shows on the k-1 Line 14 farming and fishing income noted to be F. Wouldn’t that be operating a farm? Would the same number ,be out on line 6 of the k-1?
Did the trust receive a K-1?
Otherwise, Line 6 would be business income which could be derived from farming operations.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
s d l
Level 1
lisaista
New Member
midtowncpa
New Member
Obxtime
Returning Member
bruceinla
New Member