Thanks for the reply. I know where to enter the 1099S but Pub 523 says this:
Vacant land next to home.
You can include the sale of vacant land adjacent to the land on which your home sits as part of a sale of your home if ALL of the following are true.
You owned and used the vacant land as part of your home.
The sale of the vacant land and the sale of your home occurred within 2 years of each other.
Both sales either meet the Eligibility Test or qualify for partial tax benefits, as described earlier.
Also, if your sale of vacant land meets all these requirements, you must treat that sale and the sale of your home as a single transaction for tax purposes, meaning that you may apply the exclusion only once.
So what I am asking since I received Two 1099S forms one for the land and one for the house do I just add the amounts together and enter them as one?
Example: I received 50,000 for the home and 10,000 for the land each amount shown on two separate 1099S forms and I meet the requirements above. So do I then put in 60,000 under the Home Sales Summary field in Turbo Tax?
