Landowners Association Share Sale

jharriger — Mon, 09 Mar 2026 09:12:50 GMT

We purchased a share in a landowners association in 2017 giving us access to a recreational lot. We sold the share in 2021 at a $7,000 profit. Do we need to pay capital gains or any other taxes on this sale? We didn't receive any tax form from the association regarding the sale.

Re: Landowners Association Share Sale

DianeW777 — Thu, 03 Mar 2022 20:04:03 GMT

Yes, when you sell an asset used for personal purposes it must be reported for tax purposes when there is a gain on the sale.

Report your sale as an investment sale. Be sure to answer all the questions accurately. If the boat was personal use property then the loss will not be allowed, but the income will not be taxed. Sign into your TurboTax Account > Federal tab > Wages and Income > Investment Income > Select Stocks, Bonds, Mutual Funds, Other

The first screen will ask if you sold any investments during the current tax year (This includes any asset held as an investment property or personal use property so answer “yes” to this question)
If you are using the online version - there will be a box to select Other (see image below) Do not select the Stocks, Bonds, Mutual funds box.
Since you did not receive a 1099-B, answer “no” to the 1099-B question
Choose type of investment you sold - select 'Other" see image below
Some basic information:
1. Sales Proceeds – Your net proceeds from the sale
2. Date Sold – Date you sold the property
3. Cost
4. Continue to finish your sale
5. Description – Usually the address of the property sold
6. Date of Purchase

Re: Landowners Association Share Sale

jharriger — Thu, 03 Mar 2022 21:55:59 GMT

Thanks for your quick response!

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Landowners Association Share Sale

Re: Landowners Association Share Sale

Re: Landowners Association Share Sale