Where do I enter 1099-S land sale for a multi-member LLC in Turbotax Business?

[heisim]

My LLC has sold land (farmground) and received a 1099-S. Where do I report this in Turbotax Business?  Will this affect the K-1's to be distributed? The proceeds from the sale stayed in the LLC. 

[john-ct · Accepted solution]

As land is not depreciable, you probably didn't have an Asset Entry Worksheet for it.  So click Open a Form (under Forms) and create one, (or do it under the Depreciation interview - see topic list).  Then fill out the disposition section at the bottom.  In the interview , the Depreciable Asset Sale section (Topic List)  would probably work OK too (with zero depreciation).