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1099-MISC income from a farm rental

Asked Mar 8, 2009, 09:03 PM — 3 Answers
My brother and I inherited farm property in Ohio in 2008 that was owned by our mother, who lived in Florida. For many years, she had been renting the property out to a company that runs a farm on the land. I also live in Florida and have no involvement with the farm whatsoever other than now my brother and I receive rent from it. I received a 1099-MISC for my portion of the rent. How do I report this income on my federal tax return? Do I use Form 4835 and report it on line 6 (other income)? Or do I just report it as regular rent? Does it even matter that the rent came from a farm operator? If so, why does it make a difference?

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MukatA's Avatar
MukatA Posts: 7,106, Reputation: 963
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#2

Mar 8, 2009, 09:25 PM


It is now your own rental property. Report rental income and expenses on schedule E (Form 1040).
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shannahan's Avatar
shannahan Posts: 10, Reputation: 1
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#3

Mar 8, 2009, 09:31 PM
Thanks for the response. So I gather from your response that it doesn't matter that the rent comes from a farm?
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Five Rings's Avatar
Five Rings Posts: 459, Reputation: 30
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#4

Mar 9, 2009, 08:59 AM
No, it does not matter that rent comes from a farm
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