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California online Form 4835: What You Should Know

Federal. County. City (see Table). Columns may be used but include zero. You should use the following table to determine your gross income (including gross rental income and expenses), including gross agricultural income. Gross Agricultural Income This table is for tax years beginning after January 1, 1993. This table is for tax years beginning after January 1, 1993. Gross income is taxable income from farm activities including the rental of farm buildings, machinery, or farm machinery used in farm activities such as growing, harvesting and raising or slaughtering farm products and producing food for personal or household consumption. The income from farm properties (other than property under cultivation, not included in gross rental income as discussed under Gross rental income) (other than the property in which the farm activities may occur and the property used in farm activities) should be included in gross income if the following conditions are met: The amount is at least 10,000. For taxable years beginning before 1989, the 10,000 requirements may be reduced by the amount of the taxpayer's gross operating losses. The amount must be included in the taxpayer's gross income. The amount is nontaxable income. See Gross Income, later. The gross income is equal to the gross income of the taxpayer for the taxable year or the first four taxable years. Gross operating losses are income losses that are allowable because the rental activity is carried on in a tax-exempt manner (see Regulations section 1.168(c)). Gross Operating Losses Reg's. Section 1.168(c) states that a rental activity is carried on in a tax-exempt manner if: The rental activity consists of the production by the tenant or lessee of certain agricultural products and the proceeds are used to satisfy the expenses of those activities in substantially similar amounts The rental activity is not carried on in a taxable manner if: The amount of gross operating losses is substantially the same for all the taxpayer's rental activities (including any rental activity that is part of a partnership) for any taxable year The amount of gross operating losses was less than 10,000 in a prior taxable year. Therefore, any gross receipts from a rental activity for anyone or more taxable years will be included in gross rental income under the 10,000 gross operating loss requirement. If the amount of gross operating losses is significantly less than 10,000, the rental activity is taxable.

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