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How do I enter farm rental income on form 1041 in SureFire?
Per IRS Form 1041 InstructionsforLine 5 - Rents, Royalties, Partnerships, Other Estates and Trusts, etc.:
Use Schedule E (Form 1040), Supplemental Income and Loss, to report the estate's or trust's share of income or (losses) from rents, royalties, partnerships, S corporations, other estates and trusts, and REMICs. Also use Schedule E (Form 1040) to report farm rental income and expenses based on crops or livestock produced by a tenant. Enter the net profit or (loss) from Schedule E on line 5.See the Instructions for Schedule E (Form 1040) for reporting requirements.
Tags: federal,form