Do Form CCC-1099-G Agi payments pay ss tax on the payment?

[Jokerpat]

My fisherman received, TRP Seafood payments on a Form CCC-1099-G from US Dept of Agi

Can I put it on other income or do I have to charge SS tax on those payments?

[Jim-from-Ohio]

massive discussion on this topic over here:

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/1099-g-agriculture-dept...

[qbteachmt]

We have this topic for your reference:

https://proconnect.intuit.com/community/proseries-tax-discussions/discussion/1099-g-agriculture-dept...

Along with this one: https://ttlc.intuit.com/community/taxes/discussion/how-does-one-report-a-ccc-1099-g-payment-with-the...

"1099-G - Box 7 Agricultural Payments

According to the IRS Recipient Instructions for Form 1099-G, you should refer to IRS Publication 225 Farmer's Tax Guide and the IRS Instructions for Schedule F Profit or Loss from Farming for information on reporting income from Form 1099-G Box 7.

Additional Information

Per IRS Publication 225, page 10:

Agricultural Program Payments

You must include in income most government payments, such as those for approved conservation practices, livestock indemnity payments, livestock forage disaster payments, price loss coverage payments, or agricultural risk coverage payments, whether you receive them in cash, materials, services, or commodity certificates. However, you can exclude from income some payments you receive under certain cost-sharing conservation programs. See Cost-Sharing Exclusion (Improvements), later.

Report the agricultural program payment on the appropriate line of Schedule F, Part I. Report the full amount even if you return a government check for cancellation, refund any of the payment you receive, or the government collects all or part of the payment from you by reducing the amount of some other payment or Commodity Credit Corporation (CCC) loan. However, you can deduct the amount you refund or return or that reduces some other payment or loan to you. Claim the deduction on Schedule F for the year of repayment or reduction."

And I like investopedia: https://www.investopedia.com/1099-g-form-4782667#citation-5

That has reporting by which Box you see the data entered into.

You might find something more recent and/or more definitive. Please update both that topic and this one, if you find something useful. Thanks.

[qbteachmt]

According to the IRS Recipient Instructions for Form 1099-G, you should refer to IRS Publication 225 Farmer's Tax Guide and the IRS Instructions for Schedule F Profit or Loss from Farming for information on reporting income from Form 1099-G Box 7.

Additional Information

Per IRS Publication 225, page 10:

Agricultural Program Payments

You must include in income most government payments, such as those for approved conservation practices, livestock indemnity payments, livestock forage disaster payments, price loss coverage payments, or agricultural risk coverage payments, whether you receive them in cash, materials, services, or commodity certificates. However, you can exclude from income some payments you receive under certain cost-sharing conservation programs. See Cost-Sharing Exclusion (Improvements), later.

Report the agricultural program payment on the appropriate line of Schedule F, Part I. Report the full amount even if you return a government check for cancellation, refund any of the payment you receive, or the government collects all or part of the payment from you by reducing the amount of some other payment or Commodity Credit Corporation (CCC) loan. However, you can deduct the amount you refund or return or that reduces some other payment or loan to you. Claim the deduction on Schedule F for the year of repayment or reduction."