Chrisbry Posted January 28, 2008 Report Share Posted January 28, 2008 The Farmers are starting to receive their Form CCC-1099G for Government Payments. Since the land is jointly owned by husband and wife, USDA reports 1/2 of the payments in Wife's SS# and 1/2 in husband's SS # even though the farm operations are 100% husband's (Sch F). Would you report the CCC amounts for wife on her own Sch F and nominee them to husband? Or put them all on Sch F for husband. The monies are direct deposited into the Farm account (which wife has NO access to--long story) and then applied against their farm operating note. Just curious as to how other's are handling this on their Farm returns. Quote Link to comment Share on other sites More sharing options...
Booger Posted January 28, 2008 Report Share Posted January 28, 2008 The Farmers are starting to receive their Form CCC-1099G for Government Payments. Since the land is jointly owned by husband and wife, USDA reports 1/2 of the payments in Wife's SS# and 1/2 in husband's SS # even though the farm operations are 100% husband's (Sch F). Would you report the CCC amounts for wife on her own Sch F and nominee them to husband? Or put them all on Sch F for husband. The monies are direct deposited into the Farm account (which wife has NO access to--long story) and then applied against their farm operating note. Just curious as to how other's are handling this on their Farm returns. I "plow" into the clients info, then I "harvest" the numbers that I need to prepare the return. "Combining" all this together is how I prepare a farmer's tax return. Booger Quote Link to comment Share on other sites More sharing options...
Chrisbry Posted January 28, 2008 Author Report Share Posted January 28, 2008 I "plow" into the clients info, then I "harvest" the numbers that I need to prepare the return. "Combining" all this together is how I prepare a farmer's tax return. Booger Quote Link to comment Share on other sites More sharing options...
Booger Posted January 28, 2008 Report Share Posted January 28, 2008 Seriously, Chrisby, I would report the wife's amount on a Scedule F for her, then "nominee" it over to her husband's Schedule F. The IRS will be looking for her amount reported under her SS number; this would be a way to show it under her SS number (Sorry for my BAD JOKE). Booger Quote Link to comment Share on other sites More sharing options...
Chrisbry Posted January 28, 2008 Author Report Share Posted January 28, 2008 Seriously, Chrisby, I would report the wife's amount on a Scedule F for her, then "nominee" it over to her husband's Schedule F. The IRS will be looking for her amount reported under her SS number; this would be a way to show it under her SS number (Sorry for my BAD JOKE). Booger Quite alright Booger -- after the Monday I have had, I needed a good laugh! Quote Link to comment Share on other sites More sharing options...
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