Pima Arizona Farm Lease or Rental - Crop Share

Name: Pima Arizona Farm Lease or Rental - Crop Share
Brand: US Legal Forms
Rating: 4.56 (276 reviews)

Category:

Landlord Tenant - Farms and Ranches

State:

Multi-State

County:

Pima

Control #:

US-854LT

Format:

Instant download

Description

Detailed crop share farmland lease. Costs and crops are shared by landowner and tenant. Provides for detailed division of costs.

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FAQ

Tenant farming is an agricultural production system in which landowners contribute their land and often a measure of operating capital and management, while tenant farmers contribute their labor along with at times varying amounts of capital and management.

The crop share lease provides a means for a tenant to have an adequate-sized, profitable farming operation without the large capital outlay necessary to own land. It provides the landowner a return on his investment and allows him to participate in major management decisions.

Passive Investments in Farming and Timberland Real assets, like income-producing agriculture, provide a hedge against inflation, and are an attractive investment for a diversified portfolio.

Sharecropping is a legal arrangement with regard to agricultural land in which a landowner allows a tenant to use the land in return for a share of the crops produced on that land.

Under the general rule, rental activities are passive. I.R.C. §469(c)(2).

The traditional share arrangement for a grain crop like corn or wheat is one-third to the landowner and two-thirds to the tenant. Usually, the expenses paid, and crop received, are equal to the share i.e. the landowner would pay one-third of the expenses and receive one-third of the crop.

There are a few 60-40 leases in which the landowner receives 60 percent of the crops and pays 60 percent of the operating costs, but as a general rule the smaller share, 1/3 or 40 percent, is the portion of the crop which goes to the landowner.

Usually, the expenses paid, and crop received, are equal to the share i.e. the landowner would pay one-third of the expenses and receive one-third of the crop. For hay crops, the share is typically split 50/50. In eastern Nebraska, the most common share agreement for irrigated land is 50/50.

Tatum, 46 TC 736 (1966). Accordingly, even as a rental activity, if a crop share activity produces a loss and that loss is allowed for regular income tax purposes under the $25,000 rental loss privilege, that loss is an add-back for AMT purposes due to its status as a passive farming activity. Under Sec.

The chief disadvantage is that the tenant agrees to pay a definite sum before he knows what his income will be. The crop-sharing lease is usually workable only in strictly cash-crop farming. The tenant gets part of the returns.

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United States. Dept. United States. Dept.

Pima Arizona Farm Lease or Rental - Crop Share

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What do tenant farmers do?

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Is farm rental a passive activity?

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