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Level 1

How do I enter slip AGR-1 (Statement of Farm-Support Payments)?

 
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Best answer June 02, 2020

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Level 3

How do I enter slip AGR-1 (Statement of Farm-Support Payments)?

I see dozens of these every year. There is some information on the back of the slip concerning where to report the income.

In general, if there is an amount in Box 18 for investment income, you should go to the "Other Income" part of Section 3. Income in Profile. Scroll down the form to "Other Income - line 130" and further down in that part of the form you will find a line to enter AgriInvest Fund #2 taxable withdrawals.

Crop insurance proceeds would be shown in Box 16 of the AGR-1 and these would be reported on the T1163 schedule in the Commodity sales and program section under Code 406.

Finally, any amounts in Box 14 for Income, Grants, or Subsidies would go on line 9544 of the T1163 Schedule as Business risk management proceeds.

I have never yet seen any AGR-1 slips with an amount in box 15 for Gain on Settlement of Debt.. There are different solutions for an amount in this box, so check on the back of the AGR-a slip to see what to do.

View solution in original post

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Highlighted
Level 3

How do I enter slip AGR-1 (Statement of Farm-Support Payments)?

I see dozens of these every year. There is some information on the back of the slip concerning where to report the income.

In general, if there is an amount in Box 18 for investment income, you should go to the "Other Income" part of Section 3. Income in Profile. Scroll down the form to "Other Income - line 130" and further down in that part of the form you will find a line to enter AgriInvest Fund #2 taxable withdrawals.

Crop insurance proceeds would be shown in Box 16 of the AGR-1 and these would be reported on the T1163 schedule in the Commodity sales and program section under Code 406.

Finally, any amounts in Box 14 for Income, Grants, or Subsidies would go on line 9544 of the T1163 Schedule as Business risk management proceeds.

I have never yet seen any AGR-1 slips with an amount in box 15 for Gain on Settlement of Debt.. There are different solutions for an amount in this box, so check on the back of the AGR-a slip to see what to do.

View solution in original post