GeorgeM777
Expert Alumni

Investors & landlords

To follow-up on the comments from @RobertB4444, yes report the sale of the land in the investment section of TurboTax even though that section deals with 1099-Bs and not form 1099-S.  If the land you purchased and sold was an investment, then you need to report it the same way you would any other investment such as stocks, bonds, mutual funds, etc.  

 

Reporting the sale of the land, with the correct cost basis, and sale proceeds (deduct from the sale proceeds any commissions, closing costs, etc.)

on Form 8949, Sales and Other Dispositions of Capital Assets, is the correct approach.

 

@danjonesmobile

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