1040 E Farmland with tile depreciation

Forum|Forum|1 year ago
January 9, 2025
1 reply
0 views

We have a trust with Farmland with tile that is rented out.
How do we enter the depreciation for the portion of depreciation retained by the trust on the 1040 E? What type of property in 1b is this? It is farmland but type 5 for land would not be depreciable.
do you enter the land and tile separately? Do you enter it as other?

Not A Product Question

DaveF1006

It depends. First of all, farmland that is rented out would be recorded on Schedule F, not schedule E. To enter depreciation expenses for the tile, you would navigate to the section titled Farm income and Expenses and then locate Farm Assets as you begin preparing this section in your return. Here is where you will enter the tile information on your return as an asset to be depreciated.

Preparing your return in Schedule F will clear the confusion on what type of land this is because it would be strictly for farmland.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

Farmgirl123Author

Thanks, Dave.

But this is a trust that cash rents out the land. We would not use Schedule F.

How do we depreciate the tile, buildings, fences separate from the land. The land is listed on schedule E and the rent is under it. So what form does the depreciation and excess fertilizer go on? Where would it show up on the government copy and how?