topic I sold property, not a house, so how do I enter that? in Deductions & credits

I sold property, not a house, so how do I enter that?

60-pirate — Mon, 09 Mar 2026 08:46:34 GMT

We purchased two lots in 2016 and sold them both in 2021, how do I enter that, if the program is asking for a house? There was never a building on the lots, so they don't have a street address

Re: I sold property, not a house, so how do I enter that?

DoninGA — Tue, 08 Mar 2022 19:29:27 GMT

You will need to upgrade to the Premier online edition to report this type of sale.

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

Click on Federal Taxes (Personal using Home and Business)
Click on Wages and Income (Personal Income using Home and Business)
Click on I'll choose what I work on (if shown)
Under Investment Income
On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B), click the start or update button

Or enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

On the screen Did you sell stocks, mutual funds, bonds, or other investments in 2021? click on Yes

On the screen OK, let's start with one investment type click on Other and then on Continue

Continue past the screen Tell us more about this sale

On the screen Now we’ll walk you through entering your sale details, select the type of investment sold in the dropdown on What type of investment did you sell?

Continue with this section until it completes.

Re: I sold property, not a house, so how do I enter that?

MayaD — Tue, 08 Mar 2022 19:34:19 GMT

To report the sale :

Select Federal Taxes tab,
Go to Wages & Income
scroll down to Investment Income
Select Stocks, Mutual Funds, Bonds, Other.
Respond "yes" to Did you sell any investments?
You'll then be asked Did you get a 1099-B or brokerage statement?
you'll answer "no." Then you'll be shown a list of various investment sales and you'll select "land."
You'll be taken to the screen that says Enter Land Sale Information and you'll be able to enter your information.

If you received a 1099-S, enter the amount of gross proceed as it is on form 1099-S then add the deductions/expenses to the cost basis of the land.

Form 8949, "Sales and Other Dispositions of Capital Assets," is used to figure the amount of gain or loss from the sale.