JohnB5677
Expert Alumni

Deductions & credits

You will include a Minnesota tax return.

  • it will only have the home listed in it.
  • You will prepare the posting of the sale in the federal section of the return.
  • Then go through the Minnesota return to include it.

In TurboTax Online, you can enter the sale of land by following these steps:

 

  1. Open your tax return
  2. Click on Federal in the left-hand column,
  3. Then on Wages & Income
  4. choose Investments and Savings and click on the down arrow on the right
  5. Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
  6. Did you sell any investments?
    1. yes
  7. Did you receive a form 1099-B or brokerage statement? 
    1. No
  8. Select Other (other investment purpose) from the list of investments.
  9. Follow the TurboTax interview to enter your information.
    1. If you incur sale expenses, you can subtract them from the proceeds.
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