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Form 4835 for Thornton Colorado: What You Should Know

For more information, read Section A above. Form 4835 Landowner or Sub-lessor of a Farm. Enter tenant information on the form. Note: Enter the number of acres used in the rent calculation in this field. This is a minimum number. Farm Name or Address. Enter the name of a specific farm the tenant is farming. If the tenant is a co-owner or sub-lessor, enter either the farm-owner's name or the co-owner or sub-lessor's name. Amount of Rent. Enter any rent paid that is related to the gross receipts from your rental. Rent Amount. Enter the rental fees that are paid to the tenant on the form. Farm Rent Adjustments. Enter the box whether the tenant has paid rent adjustments. Landowner's Income. Enter whether the tenant's gross farm income is from rental income. Crop and Livestock Profit or Loss from Rental. Enter the gross crop and livestock profit or loss from the rental transaction the tenant is using on its Schedule K-1. Be sure to check the box if there are any tax consequences if you exclude rental income from gross farm income, and you fail to complete this assignment. See Section B below. The “Subtract from” Value. Note: If the tenant is a co-owner or sub-lessor, enter the box what the landlord would deduct on Schedule K-1. Subsidized Rental Income. A tenant is treated as a sub-lessor if the tenant is receiving less cash as part of its rent. The tenant is treated as either an owner or a sub-lessor if the landlord makes a lease or rental agreement with the tenant that includes rental requirements. To qualify as a sub-lessor, the tenant must provide a rental agreement that is in writing. The amount of cash you enter the box does not affect the amount included on the tenant's tax return. You can't deduct cash from the tenant's farm rental income in the form of crop or livestock profit. The “Excludable Rent” Amount. Enter any cash that the landlord uses to pay the tenant for operating, maintenance, or insurance, but not for depreciation or casualty, income expense, or gain. The “Excludable Rent” amount can't be deducted in a manner other than as cash received from the tenant. Favorable Tax Treatment.

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