To report a 1099-S land-only sale in TurboTax—specifically for land that is not your home and not improved—you must enter it in the Investment Income section as "Other" investment property, not as a ...
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To report a 1099-S land-only sale in TurboTax—specifically for land that is not your home and not improved—you must enter it in the Investment Income section as "Other" investment property, not as a home sale. Because the land was owned for 49 years, this will be treated as a long-term capital gain.
To enter as investment sales in TurboTax Premier desktop:
Under FEDERAL TAXES tab, Wages& Income, select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B) under Investments and Savings.
Did you have investment income in 2025? YES
On the Let's finish pulling in your investment income- click on the Add Investment button
On the Let Us Enter Your Bank and Brokerage Tax Documents, click on Skip Import
OK, let's start with one investment type- choose Other then Continue
Tell us more about this sale LAND SALE Continue
Now, enter one sale for LAND SALE
To enter as an investment sales in TurboTax Premium online:
From the Federal section, under Wages & Income,
Select Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B, 1099-DA) under Investments and Savings
On the Let’s finish pulling in your investment income page, click on Add investments.
On the Save time and connect your financial accounts click on Enter a different way
On the How do you want to add your docs? click on Type it in myself
On the OK, let's start with one investment type, click on Other and Continue
On the Tell us more about this sale, type LAND SALE
On the Now enter one sale for LAND SALE, complete the information
Entering Data from 1099-S Proceeds: Enter the amount from Box 2 of your 1099-S. Date Sold: Enter the date from Box 1 of your 1099-S. Cost Basis: Enter the original purchase price plus any purchase costs (like recording fees or legal fees). Date Acquired: Enter the date you purchased the land 49 years ago.