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Archived [ARCHIVED THREAD] - Tax professionals: Where to claim this income?
Posted: 3/24/2017 6:38:15 AM EDT
I have a farm.  I rent barn space to a coworker so he can work on his vehicle projects.  The income is $1,200/year.  Do I claim that on my Schedule F or as personal income?  My preference is to claim it on the Schedule F because I want to show more revenue, but I need to claim it where it belongs.

Thank you!

Link Posted: 3/24/2017 8:22:05 AM EDT
[#1]
what $1200??




not a pro,,done my own taxes for 40 years including rental properties thinking there is a line for rental income.
but it's been 5 years since I held any rental properties..
Link Posted: 3/24/2017 10:24:12 AM EDT
[#2]
The farm is already a pretty big tax savings so I don't want to hide income because I have fairly large expenses for a new operation and almost no revenue.  If I can claim this on a schedule F I want to in order to be able to show more income.
Without the farm I wouldn't have the barn to rent, but the work being done under the rental is not agricultural.

Link Posted: 3/24/2017 10:51:48 AM EDT
[#3]
doing my taxes as I type. under income you will see a rental income option.
Archived [ARCHIVED THREAD] - Tax professionals: Where to claim this income?
Page General » Business & Investing
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