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cabender
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Land Sale

I sold the development rights to some agricultural land in Connecticut and received a 1099-S.  All the information for form 1099-S in Turbo Tax refers to the sale of a primary residence. What form do I use for the sale of this property?

cabender

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‎March 22, 2020 7:44 AM
last updated ‎March 22, 2020 7:44 AM
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DianeC958
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Land Sale

You can report this information in the Investment Section of TurboTax under Stocks, Mutual Funds, Bonds, Other.  When the program asks if you received a 1099-B, you answer No.  

 

A list will show and you  pick Everything Else.  Then the program will ask about the proceeds from the sale and other information to determine the gain/loss and add it to your tax return.

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‎March 22, 2020 8:14 AM
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