I live in one state and inherited vacant land in another state. I sold the land at a profit. I never used the land for anything.
1) Do I list the land sale on Schedule D for my federal taxes?
2) Do I have to pay taxes on the profit in the state where the land was?
3) Do I have to pay taxes on the land sale on my state taxes? If not will turbo tax delete that information when doing my state taxes or will I have to manually delete the entry?
