Regarding rental payments, one issue that never fades is rental payments for Conservation Reserve Program (CRP) acres. Holcomb and Hachfeld say recent legislation indicates that CRP payments are not subject to self employment tax, if the recipient is receiving social security retirement, survivor, or disability payments. Others receiving CRP payments would be subject to self employment tax.
Tax filing for farmers is less than two months away, and issues can be quite complex. Wind farms have brought in new income, but new details on reporting income. CRP payments are received by many Cornbelt land owners, and unless you are on Social Security, those CRP rental payments are subject to self employment tax.
Source: FarmGate blog