TAXMAN Posted April 5, 2014 Report Share Posted April 5, 2014 TP been farming 10 years. Sells farm. Has a cg of the farm land on line 13 and a large 4797 gain on line 14 and a small loss on farm line 18. I know I cannot use the cg from line 13 on Sch J but can I use line 14 on schedule J. It looks like I can since this is ordinary income. What do you think? Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted April 5, 2014 Report Share Posted April 5, 2014 Capital gains are included but do not include any gains from land, grazing rights etc. That should be spelled out in the instructions to Schedule J or Pub 225. 1 Quote Link to comment Share on other sites More sharing options...
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