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February 15, 2025
Question

Trust farm rental

  • February 15, 2025
  • 1 reply
  • 0 views

If a trust had a strictly cash rental farm, would it ever have farming and fishing income on line 42 of the 1040E?   Or would Farming and Fishing income on the 1040E line 42 be for crop share?   
I guess im asking if a trust has farming and Fishing Income on line 42 of the Schedule E that goes to the K-1?   And what form is used to calculate that Farming and fishing income on line 42 of the 1040E?

would it ever be schedule F or 4835?

    1 reply

    M-MTax
    February 15, 2025

    Strictly cash rental from a farm would be reported on Schedule E. There shouldn't be any figure on Line 42 unless the trust, itself, received a K-1.

    February 15, 2025

    Would a crop share rental go on 42?   
    how would the trust have farming and fishing income?

    thank you!!

    PatriciaV
    Employee
    February 16, 2025

    Please clarify if you are preparing a Form 1041 Trust return or working on your personal Form 1040 return.

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