Taxpayer has leased out land, but prior accountant claime it onSch F. A loss for the past 3 years. Now taxpayer is selling the land. Taxpayer only received rent and did not have any livestock or farm related income. He did take expenses for fences, tax, utiltiies, insurance, etc. All on F. Should it be amended to report on Form 4835? Took a loss every year, but now a sale is about to take place? Had the property for 3 years
Announcement
Collapse
No announcement yet.
sale of land-farm vs non farm
Collapse
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.
Comment