In Wisconsin, taxpayers are allowed a deduction of 30%, on long-term capital gains, or 60% if the capital gain resulted from the sale of farm assets. Unfortunately, that won't do you much good, as California taxes capital gains as ordinary income.
Your capital gain will be the $110,000 net proceeds less your cost basis. Cost basis is usually what you and/or your ex originally paid for it. Inherited or gifted property might have a different cost basis. When entering the sale, in TurboTax, show the full sale amount (what's on the 1099-S, probably $120,000) as sale amount and show the $10,000 difference as expenses of sale.
