If this was a personal use car, enter it in the Investment section.
TurboTax Premier online (or higher) is required to report the sale of land. You'll make the entry by clicking on the
- Federal Taxes
- Wages & Income
- Investment Income and select
- Stocks, Mutual Funds, Bonds, Other.
Respond "yes" to Did you sell any investments? You'll then be asked Did you get a 1099-B or brokerage statement? and you'll answer "no." Then you'll be shown a list of various investment sales and you'll select the option that applies.
