TurboTax Premier online (or higher) is required to report the sale of land. You'll make the entry by clicking on the Federal Taxes tab, then Wages & Income, then scroll down to Investment Income and 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? and
you'll answer "no." Then you'll be shown a list of various
investment sales and you'll select "land."
You'll be taken to the screen that says Enter Land Sale Information and you'll be
able to enter your information. Be aware of the tiny box that says "I paid sale expenses not included in proceeds," as it must be checked if applicable to you.
Then hit "continue" and follow the prompts, where
TurboTax will ask you follow-up questions.
