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Level 2
posted Feb 24, 2022 2:33:54 PM

If I entered a 1099-s for the sale of inherited land why is it showing as a 1099-B under my investments and savings?

What is the difference between Land(personal use) and Land(other purpose)?

0 2 440
2 Replies
Level 15
Feb 24, 2022 2:39:31 PM

your personal home may be eligible for the capital gain exclusion up to $250,000  (500,000 if joint).

there is no panel for entry of 1099-S. that form just tells the IRS to look for a sell report on your Schedule D.

Level 2
Feb 25, 2022 11:48:57 AM

Thanks.