I am working on a tax return for a trust that sold three parcels of inherited land in 2024. We have three parcels left to sell. Stepped up basis was established in 2022 through a detailed appraisal that lists basis by parcel.
The first parcel we sold contains land and farm buildings that were rented. Parcels 2 and 3 were raw land sales, no rents involved with those.
Where in Turbotax business do I enter the parcel 1 sale ? Remember, this has rents and expenses incurred. Does the sale have to be tied to the rental income? or can it be entered as a home sale?
Where in Turbotax business do I enter the raw land sales?
