Question

Does the rent reported on my 1099-misc count as farm rental income or real estate income? A solar company paid to research to see if our land is suitable for a project

Forum|Forum|6 years ago
March 29, 2020
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TurboTax Online

Assuming that the 1099-Misc is reporting income in box 1, the income can be reported on either IRS form 4835 Farm Rental Income and Expenses line 6 or 1040 Schedule E Supplemental Income and Loss.

Either form will allow you to deduct expenses related to the income received.

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R

roeth2147

My Home and Business version won't let me report a 1099 MISC for Farm rental income in the Farm Income section. It always refers me to the Rental Property section. If/when I do that, where do I report my farm expenses?

Carl11_2

Employee

My Home and Business version won't let me report a 1099 MISC for Farm rental income in the Farm Income section.

That actually comes as no surprise, since you stated you were paid the money for research, and not for farming activity. I actually wonder if you have to file a SCH E at all.

What exactly was the rent paid for? The use of a structure? The use of land only? Something else?

For what period of time was the rent paid? One day? One week? One month? Something else?

Are you "in the business" of renting real estate on a continuing and/or recurring basis?