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posted Feb 6, 2023 12:45:01 PM

Sale of farm land

My wife inherited a share in her family farm upon the death of her mother. It was decided to sell the farm in 2022. The farm is in a different state than the one we live in.

I am unable to figure out where to show this transaction in Turbotax.

If I use the Investment Income section, I do not see where I can enter a location for the transaction.

I tried using Rental Properties and Royalties, but could not find the appropriate option for the sale of the property.

 

I originally purchased the Deluxe edition, but upgraded to Premier online.

 

Thanks

 

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1 Replies
Expert Alumni
Feb 6, 2023 2:43:10 PM

Because these types of sales are considered investment sales, you need to enter this info in the investment section of TurboTax.

 

Please see this TurboTax Help FAQ for step-by-step instructions: Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?