To enter your land sale and expenses in TurboTax Premium follow these steps.
- Click on the Federal Taxes tab, then Wages & Income
- Scroll down to Investment Income and select Stocks, Mutual Funds, Bonds, Other.
- Answer yes to Did you sell any investments?
- Answer no to Did you get a 1099-B or brokerage statement?
- Select Land from the list of various investment sales.
- On the screen Enter Land Sale Information and you'll be able to enter your information. Be aware of the tiny box that says "I paid sale expenses not included in proceeds,” it must be checked.
- Then hit "continue" and follow the prompts.
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