Business Taxes

Form 4835 - Sale of Livestock and Other Items Bought for Resale

Understanding the Tax Implications of Selling Livestock and Other Resale Items

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Business Tax Specialist

Tax Expert

3 min read
Published on 5 months ago
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Form 4835 is used to report farm rental income and expenses when a landowner or sub-lessor receives crop or livestock shares from a tenant farmer and does not materially participate in the farming operation. The form is used for production-based rental arrangements (sharecropping) rather than cash rent. It is attached to Form 1040, 1040-SR, or 1040-NR and is generally not subject to self-employment tax.

Part I: Gross Farm Rental Income — Based on Production

Line 1: Report income received as shares of crops, livestock, or other agricultural products from a tenant farmer. Include the fair market value of property received or amounts converted to cash or its equivalent.

Line 2a: Enter total distributions from agricultural cooperatives as shown on Form 1099-PATR.

Line 2b:Enter the taxable portion of cooperative distributions.

Line 3a:Enter total agricultural program payments received (e.g., USDA farm program payments related to rental activity).

Line 3b:Enter the taxable portion of agricultural program payments.

Line 4a:Enter Commodity Credit Corporation (CCC) loans reported as income if an election is made to treat them as income.

Line 4b:Enter CCC loans forfeited.

Line 4c:Enter taxable amount of CCC loan activity.

Line 5a:Enter crop insurance proceeds and federal crop disaster payments received in the tax year.

Line 5b:Enter taxable portion of crop insurance proceeds.

Line 5d:Enter crop insurance or disaster payments deferred from a prior year (if applicable).

Line 6:Enter other farm rental income not included on Lines 1 through 5d.

Line 7:Total gross farm rental income (add Lines 1 through 6). This amount flows to Schedule E (Form 1040).

Part II: Expenses — Farm Rental Property

Report ordinary and necessary expenses related to farm rental activity, such as:

  • Repairs and maintenance
  • Taxes
  • Insurance
  • Depreciation (if applicable)
  • Supplies
  • Utilities
  • Other operating expenses related to the rental activity

Expenses must be directly connected to the farm rental property and cannot include personal or non-rental expenses.

Special Rules and Considerations

  • Material participation rule: If the taxpayer or spouse materially participates in the farming operation, income must be reported on Schedule F (Form 1040), not Form 4835.
  • Cash vs. accrual method: Income is reported when received or constructively received, depending on the taxpayer’s accounting method.
  • Passive activity rules: Losses may be limited under Form 8582 (Passive Activity Loss Limitations).
  • Form 4835 applies only to farm rental income based on production (crop/livestock shares), not cash rent arrangements.

Source:

Form 4835 (2025) - Farm Rental Income and Expenses

Disclaimer: Always verify details with the current year’s Federal or State Department of Revenue Forms and Instructions. For complex situations, consult a CPA or tax attorney.

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