it's important to select the category of 'Other' when entering a land sale.
Land is considered investment property if it is not part of a home sale. Land sales are reported by using the following instruction.
- Wages & Income, Search (upper right magnifier) > type 1099b > Jump to ... link
- Choose to enter the sale yourself - Type it myself
- Select Stocks, Mutual Funds, Bonds, Other.
- Respond "yes" to Did you sell any investments? You'll then be asked Did you get a 1099-B or brokerage statement? answer "no."
- Enter one sale at a time
- Enter Land Sale Information (sales price, cost basis, purchase and sale dates)
- Continue to follow the prompts to complete your sale
There should be no error message once you follow these steps.
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