Enter or review the information for Form 1099-MISC Box 1 - Rents If you need help accessing Form 1099-MISC in the TacAct program, go to our Form 1099-MISC - Entering in Program FAQ):
Note. Form 4835 Farm Rental Income and Expenses - If you were the landowner (or sub-lessor) and did not materially participate (for self-employment tax purposes) in the operation or management of the farm, use Form 4835 to report farm rental income based on crops or livestock produced by the tenant. See Chapter 12 in IRS Publication 225 Farmer's Tax Guide for the definition of material participation for landlords. Use this form only if the activity was a rental activity for the purposes of the passive activity loss limitations. See Form 8582 Instructions Passive Activity Loss Limitations for the definition of rental activity.
Schedule C (Form 1040) Profit or Loss From Business - If you provided significant services to the tenant, sold real estate as a business, rented personal property as a business, or you and your spouse elected to be treated as a qualified joint venture, report on Schedule C.
Schedule E (Form 1040) Supplemental Income and Loss - Report rents from real estate on Schedule E. See IRS Publication 527 Residential Rental Property for additional information.
If you also have federal and/or state tax withholding reported, see Form 1099-MISC - Federal or State Withholding.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.