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Senior Advisor
Posts: 9,317
Registered: ‎05-10-2010
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Re: tax question on leased farmland

If you are talking real estate taxes that is paid by the land owner. However the cash rent you pay usually includes that amount within the rental fee.

 

If you're talking income tax you will keep track of income and expenses and file a schedule F with your 1040 tax return. Your income tax bill will reflect the additional income should there be any. You need to talk to a tax professional to learn which items are tax deductable and which are not