jsandy
Level 2
‎02-05-2021 09:30 AM

How do you report income from a 1099-PATR which is a grain sale from grain that was inherited?

0 Cheers
sjrcpa
Level 15
‎02-05-2021 09:34 AM
Spoiler
Income in respect of a decent has the same character as it would have for the decedent. So I'm guessing Schedule F or Form 4835.

The more I know the more I don’t know.
IRonMaN
Level 15
‎02-05-2021 09:40 AM

Looks like you are enjoying playing the spoiler here 😀


Slava Ukraini!
0 Cheers
sjrcpa
Level 15
‎02-05-2021 09:46 AM

I didn't even realize I did that.


The more I know the more I don’t know.
IRonMaN
Level 15
‎02-05-2021 09:51 AM
Spoiler
But you did --------- so I had to give it a try to see if I like it 🤔

Slava Ukraini!
BobKamman
Level 15
‎02-05-2021 10:00 AM

It's complicated.  See pages 3-6 of this seminar slide show:

https://www.calt.iastate.edu/system/files/premium_video_files/Farm%20Assets%20-%20PPT.pdf