Form 4835 - Commodity Credit Corporation

Commodity Credit Corporation (CCC) Loans Generally, you do not report CCC loan proceeds as income. However, if you pledge part or all of your production to secure a CCC loan, you may elect to report the loan proceeds as income in the year you receive them, instead of the year you sell the crop. If you make this election (or made the election in a prior year), report loan proceeds you received [...]

South Carolina K-12 Public Education Fund

K-12 Public Education Fund - Your donations will help fund public education from kindergarten through Grade 12. SC Department of Education, 1429 Senate St., Columbia, SC 29201, 803-734-8485, [...]

Unreported Social Security and Medicare Tax

For 2021, the maximum wages and tips subject to social security tax increases to $142,800. The social security tax rate an employee must pay on tips remains at 6.2%. Reminder A 0.9% Additional Medicare Tax applies to Medicare wages, Railroad Retirement Tax Act compensation, and selfemployment income over a threshold amount based on your filing status. Use Form 8959, Additional Medicare Tax, to [...]

Form 4835 - Sale of Livestock and Other Items Bought for Resale

Purchase of Livestock and Other Items for Resale Report income you received from livestock, produce, grains, and other crops based on production. Under both the cash and the accrual methods of reporting, you must report livestock or crop share rentals received in the year you convert them into money or its equivalent. For more information see IRS Form 4835 General [...]

Form 4835 - Active Participation in Farm Rental Income and Expenses

Active Participation Generally, you are considered to actively participate if you participated in making management decisions or arranging for others to provide services (such as repairs) in a significant and bona fide sense. Management decisions that are relevant in this context include approving new tenants, deciding on rental terms, approving capital or repair expenditures, and other similar [...]