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P
pookypot
February 12, 2025
Question

Farm Rental

  • February 12, 2025
  • 1 reply
  • 0 views

We purchased a farm as a rental property in 2006. I have been using Turbo Tax to file my Taxes. When we purchased the property, I filed my taxes using Form 4835 to report the income. Now that I need to add a circle pivot as an asset I cannot see where that is done. Can you help me with that?

    1 reply

    R
    RobertB4444
    February 12, 2025

    While you're entering your farm income and expenses for the farm rental the system will ask if you had any assets.  Your answer is 'Yes' and you will describe the asset and the amount you paid for it and the date that you placed it in service.  That will add it to your return.

     

    @pookypot 

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