To report your capital gains, you'll need to upgrade to TurboTax Premier in order to prepare the Schedule D & Form 8949. You can continue with the following instructions and TurboTax will inform you of the upgrade requirement and at that time you can click on the button to continue.
You'll report the land sale 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? This will trigger the "upgrade" screen. Once you continue, you'll 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."
Then 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; it must be checked if applicable to you.
Then hit "continue" and follow the prompts, where TurboTax will ask you follow-up questions.
