I know it is not a sale, but that is still how it shows for tax purposes. Due to the property cost being higher than the $300 you got for the right of way, you show it a sale for $300 and the cost for the same $300 on the tax return.
The net tax impact is $0 and the cost (or basis) of the property you own is reduced by $300.
To
enter your 1099S for the right away sold
Click
on Federal Taxes
Click
on Wages and Income
Click
on I'll choose what I work on
Scroll
down to Investments
On
Stocks, Bonds, Other, click the start or update button
Please see the answer to a very similar question like this I answered earlier.
https://ttlc.intuit.com/questions/3620922
