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geebus12
Returning Member

Single Member LLC and 1099-s forms from selling land

Hi Turbo Tax Community,

 

I have a Singe Member LLC.

I sold two pieces of land in 2020 that I bought using the LLC.

I have received 2 1099-s forms for the transactions that are under the LLC name.

All proceeds were transferred to my personal account.

 

Where do I record this information using Turbotax Premier Online?

(Step-by-Step instructions if possible please)

 

Thank you!

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2 Replies

Single Member LLC and 1099-s forms from selling land

are you a dealer in real estate or were these just occasional sales?

geebus12
Returning Member

Single Member LLC and 1099-s forms from selling land

Just occasional sales. I got the LLC to buy and resell these two pieces of land.  The LLC has not been used for anything else but this.

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