I have a client that receives monies for share of crop produced on his land. He does the upkeep of land and has a small utility trailer he purchased for 1000.00. I intend to put it on a depreciation schedule on the 4835. Does this seem the correct way to handle.
He receives the 1099 box 7 monies as rent which is based on his 1/3 of income.
He receives the 1099 box 7 monies as rent which is based on his 1/3 of income.
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