If the sale was not your main home, then the gain cannot be excluded from income.
If the LLC is a partnership or S-corp, it should be reported on their respective tax return. If it is solely owned, you can report it on your individual tax return:
- In the Federal > Wages & Income > Investment Income section of your return, click Start/Revisit next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other.
- In this category, you may select the type of investment as well as the acquisition and sale information. TurboTax will calculate the capital gain for the land.
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