topic I sold my farm in 2017. Do i have to pay taxes on the capital gains from the sale in Deductions & credits

I sold my farm in 2017. Do i have to pay taxes on the capital gains from the sale

crazydave68 — Sat, 01 Jun 2019 14:19:29 GMT

I sold my farm in KY for a profit. Do I have to pay Federal Capital gains taxes?

CarolynM — Sat, 01 Jun 2019 14:19:31 GMT

Was this just your home or did you earn income from the farm?

crazydave68 — Sat, 01 Jun 2019 14:19:33 GMT

Earned Income from the farm and No it was not my home.

CarolynM — Sat, 01 Jun 2019 14:19:35 GMT

Yes, you will pay capital gains on the sale. It is considered investment income for which there is no form 1099.

For more information on capital gains, follow this link:

crazydave68 — Sat, 01 Jun 2019 14:19:37 GMT

OK where do I add the capital gains in TurboTax?

crazydave68 — Sat, 01 Jun 2019 14:19:39 GMT

I checked the box that asked if I sold the farm. But it never asked me how much I bought or sold it for.