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Federal input screens

Screen 4835 - Farm Rental - Income (1120)

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At-risk limitation

Enter amounts that are at-risk in the 6198 screen. For more information, refer to the 6198 screen.

General Information

State postal code
Enter the two-character postal code for the state in which the farm is located, or select a postal code from the fieldview. Various state products use this code to aid in determining in-state and out-of-state income.
Section 1.163(j)-9 election was made for an excepted trade or business
Enter
X
 if the corporation has made an election under section 1.163(j)-9 in the prior year, or is making the election in the current year. The application proformas
X
 to this field when a
1
 was entered in the
Meets criteria for excepted trade or business under Section 163(j)
 field in the prior year.
The Section 163(j) election is an irrevocable election. If the election was made in the prior year, it does not need to be made again. Enter data in the
Section 1.163(j)-9 election
 statement dialog in the Elect screen in the Elections folder to make this election in the current year.

Income

Elect to include CCC loans in income
Enter
X
 in this field to elect to include CCC loans in income. The tax election automatically prints with the return. If the return is being filed electronically, the tax election is included in the electronic file.
note
If you make this election in the 4835 screen, do not make the same election in the Elect screen in the Elections folder, as duplicate elections may print.
Election to defer crop insurance proceeds to next year
Use the statement to elect to defer the income from crop insurance proceeds until next year. The tax election automatically prints with the return. If the return is being filed electronically, the tax election is included in the electronic file.
note
If you make this election in the 4835 screen, do not make the same election in the Elect screen in the Elections folder, as duplicate elections may print.

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