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Screen HI4835-2 - Hawaii Farm Rental - Expenses (1120)

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Expenses

Conservation expenses
If you enter a positive amount, it is limited to 25 percent of the gross farm income. If you enter a negative number, the number is converted to a positive number, and is not limited.
Rent or lease - vehicles, machinery and equipment: Inclusion amount
The application transfers the amount of lease inclusion from the asset module, and subtracts the amount from the leased vehicle expenses entered in the
Rent or lease - vehicles, machinery, and equipment
 field.
Other expenses: Meals subject to 50% limit
Enter 100 percent of the meal expenses. The application automatically reduces this amount to 50 percent when calculating other expenses.
Other expenses: Meals subject to DOT 80% limit
Enter 100 percent of the meals expense subject to the hours of service limitations of the Department of Transportation (DOT). The application automatically reduces this amount to 80 percent when calculating other deductions.
Other expenses: Preproductive period expenses
The amount entered prints as a negative number with the description "263A" on the Other expenses line on the form.

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