CLIENT HAS HUNTING LEASE INCOME - HE HAS A FARM OPERATION(PROFITABLE) IS THAT INCOME SCH F OR SCH E

Forum|Forum|5 years ago
April 10, 2021
5 replies
11 views

IS HUNTING LEASE INCOME SCH F OR SCH E ( NO EXPENSES ON THE INCOME)

ProSeries Professional

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Best answer by Skylane

I’d probably use sch e but don’t think it really matters. It’s income not subj to SE

J

jeffmcpa2010

Level 10

disclaimer: No research backs up this opinion.

My opinion - Other income on Schedule F

PATAX

Level 12

I think you are right Jeff... He is leasing the land.... just my opinion...

S

Skylane

Answer

Intuit Community Champion

I’d probably use sch e but don’t think it really matters. It’s income not subj to SE

If at first you don’t succeed…..find a workaround

BobKamman

Level 15

Do the farm activities attract the wildlife that attract the hunters?

The question really is about SE tax. If a billboard company pays to put up a sign on the road that runs past the farm, does that go on Sch F? What if the sign is for a restaurant that buys the farm's produce?

dkh

Level 15

Are they hunting on the land that is farmed or in the wooded area which cannot be farmed?

My opinion - hunting on land that cannot be farmed - Sched E hunting land that is producing for farm Sched F

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