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

pm1040
Level 2

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

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Skylane
Level 11
Level 11

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

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5 Comments 5
jeffmcpa2010
Level 11

disclaimer: No research backs up this opinion.

My opinion - Other income on Schedule F

PATAX
Level 15

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

Skylane
Level 11
Level 11

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?

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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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