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molsonbeer1
New Member

I own farm land that is rented out for farm use , were to input , only have twn sec range as description and address

 
3 Replies
TurboTaxLise
Moderator

I own farm land that is rented out for farm use , were to input , only have twn sec range as description and address

You would use the T2042 Statement of Farm Activities - Part 4 line 9811 - Rent(land,building and pastures). 

This form can be found in the online version under: 

  • "Income" tab, "Self Employment" then "Farming Activities".
DougFromCalgary
Level 2

I own farm land that is rented out for farm use , were to input , only have twn sec range as description and address

I don't think so - that's where you enter the rent you pay, not the rental income you receive.

The question is where do you enter your rental income when you rent it out to others?

TurboTaxDeanna
Moderator

I own farm land that is rented out for farm use , were to input , only have twn sec range as description and address

@molsonbeer1

@DougFromCalgary

 

To input information regarding rental income is simple using the EasyStep.

  • Click the Find button on the top right-hand side;
  • then, enter rental income;
  • then you will be prompted to answer questions regarding your rental income.

When using the forms, enter rental income in the keyword search and select the T776 form Real estate rentals.

 

 

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