The sale of undeveloped land is considered an investment, and is treated similar to a stock or Mutual Fund.
To correct the cost basis on stocks from a 1099-B
- Start at Investment income
- Select Stocks, Mutual Funds ....
- NO you did not get a 1099-B
- Select Land and continue through the questions.
Normally you will pay tax in the state that you earned money in, and you home state. However, you would get credit for the state taxes paid in the state that you live in.
Since Florida does not have an income tax you will only have to include it in Missouri.
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