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Returning Member
posted Mar 21, 2022 2:23:58 PM

How do i report capital gains from sale of inherited farmland?

Where in turbotax do I report capital gains?

0 2 957
2 Replies
Expert Alumni
Mar 21, 2022 2:38:05 PM

You report the sale of the farmland as an investment sale. Follow these steps to enter your investment sales in TurboTax:

 

While in the Federal section of TurboTax: 

  1. Income and Expenses

  2. Investment Income

  3. Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)

 

Choose the category of investment you want to enter and follow the instructions to enter your investment sale.

New Member
Feb 6, 2024 8:47:37 AM

Thanks.