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tinkerbelle1957
New Member

Is owning your farm/ranch now considered farm rental by turbotax?

 
8 Replies
TomYoung
Level 13

Is owning your farm/ranch now considered farm rental by turbotax?

If you're renting out your farm, then yes.  If you're operating it yourself, then no.
tinkerbelle1957
New Member

Is owning your farm/ranch now considered farm rental by turbotax?

Then why won't turbotax give me the option to pick farm and not farm rental, i need to do a schedule f
TomYoung
Level 13

Is owning your farm/ranch now considered farm rental by turbotax?

In my desktop version of TurboTax Home & Business I see interviews for both Farm Income and Expenses and Farm Rental Income and Expense.  If I choose the first interview and tell TurboTax that "I have income from operating a farm" then I'm working in Schedule F.
tinkerbelle1957
New Member

Is owning your farm/ranch now considered farm rental by turbotax?

I have to have self employed due to my spouse mowing a couple of time a year and getting a 1099.  Thank you, will keep looking.
TomYoung
Level 13

Is owning your farm/ranch now considered farm rental by turbotax?

TT Self Employed is the "online" version of TT Home & Business for "desktop".  I think TurboTax has been experimenting with having the SE version's interview more "streamlined" or "customized" or something so the Farm Income interview may be hiding.  I think there's some sort of "search" function in the online version so try and find that and type in "Farm" to see what comes up.
tinkerbelle1957
New Member

Is owning your farm/ranch now considered farm rental by turbotax?

I did find what I needed, i clicked the box for 1099 patronage since i had one but that's when it went into the rental stuff,  changed to farm income and that worked fine.  Thank you for your help.
VolvoGirl
Level 15

Is owning your farm/ranch now considered farm rental by turbotax?

Did you go to Federal > Income & Expenses > scroll down to Rentals, Royalties and Farm click on Show More

Then Start by Farm Income and Farm Rental

Do you get this far?  Then where do you get lost?  Then on the second screen you get the second screen shot

VolvoGirl
Level 15

Is owning your farm/ranch now considered farm rental by turbotax?

Second screen shot added above
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