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H
husker52
January 21, 2023
Question

We sold 329 arce of pasture land. Form 4835 what I need? Is that form avaailable available through turbo tax?

  • January 21, 2023
  • 1 reply
  • 0 views
Simply rented pasture to rancher for years.

1 reply

PatriciaV
PatriciaV
Employee
January 23, 2023

Yes, Form 4835 Farm Rental Income and Expenses is available in TurboTax online and desktop. You'll report your farm rental income under the Business Income topic in TurboTax.

 

However, the sale of business property, including land, is reported under Federal Taxes >> Wages & Income >> Business Items >> Sale of Business Property. Start here and follow the prompts to report the sales price and your basis in the land to determine your taxable income for this sale.

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