We used our retirement account to purchase adjoining 3.88 acres for an investment. it was a foreclosure and we got it for 50% less than original price. is it income?

[HelenC12]

Yes, the retirement money would be considered income. You'll receive form 1099-R and enter it in TurboTax. 

No, you don't enter the purchase of your 3.88 acres, as income, even if you got it as a foreclosure and paid 50% below the original price.

• When you sell your 3.88 acres, you'll have to report that on your income tax return in the investment section of TurboTax.