Crop-share rent
Varies
Can You Write Off Crop-share Rent?
Short answer: Yes, it's taxable: a landowner's share of crops is income on Form 4835 when sold or used, and you deduct your share of seed, fertilizer, and costs.
Landowners who materially participate report it on Schedule F instead.
Records to keep: Keep leases, receipts, a log of repairs vs improvements, mileage to the property, and closing statements.
Crop-share rent
Varies
Real Estate / Landlords / Property Managers / Agents
Yes, it's taxable: a landowner's share of crops is income on Form 4835 when sold or used, and you deduct your share of seed, fertilizer, and costs.
Business justification
Yes, it's taxable: a landowner's share of crops is income on Form 4835 when sold or used, and you deduct your share of seed, fertilizer, and costs. Landowners who materially participate report it on Schedule F instead.
Category
- Rental Property Write-Offs