topic How do I enter the sale of land in Deductions & credits

How do I enter the sale of land

paulefortinsr — Tue, 04 Jun 2019 22:11:25 GMT

TurboTax Premier online (or higher) is required to report...

ThomasM — Tue, 04 Jun 2019 22:11:26 GMT

TurboTax Premier online (or higher) is required to report the sale of land. You'll make the entry by clicking on the Federal Taxes tab, then Wages & Income, then scroll down to Investment Income and 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? and 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. Be aware of the tiny box that says "I paid sale expenses not included in proceeds," as it must be checked if applicable to you.

Then hit "continue" and follow the prompts, where TurboTax will ask you follow-up questions.

I went to Investment Income. Responded Yes for sale of I...

kothisarkar99 — Tue, 04 Jun 2019 22:11:28 GMT

I went to Investment Income. Responded Yes for sale of Investments. Answered No to the question on receiving 1099 B.

Clicked on land. Entered the Gross Proceeds.

When I clicked on the little box to enter the expenses not included in Gross Proceeds, I get Form 1099 B to enter those expenses, Why?

What should I do?

Re: How do I enter the sale of land

SubCAPT — Tue, 16 Feb 2021 21:24:13 GMT

Turbo Tax for 2020 does not give you an option for land if you say no to 1099-B so how do you do it for tax year 2020?

Re: How do I enter the sale of land

DawnC — Tue, 16 Feb 2021 21:38:41 GMT

If you say no, you have no 1099-B, you can enter ''land'' as the description on the next screen. There is not a separate entry screen for land in TurboTax Desktop. TurboTax will ask for all of the necessary information to calculate the gain or loss on the sale. If you want to see the entry process in detail, please refer to Irene's post here. @SubCAPT

Re: How do I enter the sale of land

Irene2805 — Fri, 19 Feb 2021 16:57:24 GMT

A land sale is considered a sale of an investment. To report this in TurboTax, please follow these steps:

TurboTax Online

Click on Federal > Wages & Income
In the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far. Click on the Add More Sales link.
If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX? Click the Yes box.
On the screen, OK, what type of investments did you sell? mark the Other box and click Continue.
When you get to the screen, Now we’ll walk you through entering your sale details enter the details of the sale. You will be able to select the type of investment in the first box [second home, land, etc.] [See Screenshot #1 below.]
Click Continue when done.

TurboTax CD/Download

On the Wages & Income screen, in the Investment Income section click on the Start/Revisit box next to Stocks, Mutual Funds, Bonds, Other. If you have already entered some investment sales, you will see a screen Here's the investment sales info we have so far. Click on the Add More Sales link.
If you haven't yet entered some investment sales, you will see a screen Did you sell any investments in 20XX? Click the Yes box.
On the screen,
Did you get a 1099-B or brokerage statement... click the No box.
On the screen, Tell us about this sale, mark the radio button, I'll enter one sale at a time.
Enter the information in the boxes that appear. You will have to type in Land Sale in box 1a.
Enter the total sales proceeds as well as the other information requested. [See Screenshot #2 below.]
Continue to the screen, Select any less common adjustments that apply.
Mark the first box The reported sales price did not deduct all fees or selling expenses. [Screenshot #3]
Enter the sales expenses not deducted from the sales price entered earlier.

Screenshot #1

Screenshot #2

Screenshot #3

Re: How do I enter the sale of land

Piry25 — Tue, 23 Mar 2021 14:56:01 GMT

Have Premier download version 2020.48.21.77

When I click in investments:

The first screenshot I dont even see that.

The second screenshot yes

The third screenshot NO

Re: How do I enter the sale of land

ToddL99 — Tue, 23 Mar 2021 17:32:02 GMT

You will see different screens in the desktop versions of TurboTax (see below).

Where do I enter the sale of a second home, an inherited home, or land on my 2019 taxes?

Open or continue your return.
In the search box, search for sold second home and select the Jump to link in the search results.
Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2020?screen.
- If you land on the Your investment sales summary screen, select Add More Sales.
On the Did you get a 1099-B or brokerage statement for these sales? screen, select No.
Answer the questions and continue through the screens to finish entering your sale.

These screenshots are from TurboTax Home & Business and should be identical to what you see in Premier.

Re: How do I enter the sale of land

Piry25 — Tue, 23 Mar 2021 20:14:50 GMT

Thanks for responding the last screenshot I dont get and that is the main problem I have.

Re: How do I enter the sale of land

ToddL99 — Tue, 23 Mar 2021 22:22:36 GMT

You do not need to use the last screen ("Select any less common adjustments") UNLESS you had selling expenses that were not added to the cost basis of the property sold.

This screen just gives you the opportunity to add any selling/closing costs that weren't accounted for in the "Sale proceeds" amount or "Cost or other basis". Otherwise, leave all the boxes on this screen unchecked and proceed.

Re: TurboTax Premier online (or higher) is required to report...

jdocwatson — Thu, 25 Mar 2021 20:17:46 GMT

I have gone through steps but land does not pop up as an option. It goes right to sale of stocks etc.

Re: How do I enter the sale of land

Piry25 — Fri, 26 Mar 2021 12:14:00 GMT

I dont even get the screen for land sale and that is the problem.

Re: TurboTax Premier online (or higher) is required to report...

Cynthiad66 — Fri, 26 Mar 2021 17:26:34 GMT

Here is how to enter the sale of land:

You can enter this info in the investment section of TurboTax. Select the product you’re using for the right instructions.

Note: To report investment sales, you’ll have to use TurboTax Premier, TurboTax Self-Employed, or TurboTax Home & Business.

TurboTax Online

TurboTax CD/Download

According to Internal Revenue Service publication 544 , "Sales and Other Dispositions of Assets," you must report the sale of vacant land as a capital gain or loss. Use Form 8949, "Sales and Other Dispositions of Capital Assets," to figure the amount of gain or loss from the sale. Sales and Other Disposition of Assets

Re: How do I enter the sale of land

ddbarnes — Sat, 22 Jan 2022 02:45:45 GMT

How do i calculate cost basic on land gifted to me 25 years ago that i sold in 2021

Re: How do I enter the sale of land

ThomasM125 — Sat, 22 Jan 2022 03:19:06 GMT

@ ddbarnes More than likely, the land is worth more than when you acquired it, so the basis would be the basis to the individual that gave it to you. That would normally be the cost that the person paid for it. You may have to do some research to find the value of the land when the person who gave it to you purchased it. That may entail looking up the property record from your property appraiser's office, which is often available online.

Re: How do I enter the sale of land

Dawn1313 — Fri, 11 Mar 2022 00:15:27 GMT

Turbotax 2021 Home and business will NOT let you select and/or fill out a Land Sale drop box and this is the most expensive turbotax program.

Turbotax has know this in both 2020 and 2021 and refuses to fix!!!

They want you to determine how to individually fill out Form 8949 and Sch D and submit to IRS with excel sheet

Following Turbotax refusal to correct know issues will be the refusal to purchase or use Turbox in the future

Re: How do I enter the sale of land

MarilynG1 — Fri, 11 Mar 2022 01:19:43 GMT

Make sure you are in the Personal tab of Home & Business (unless this is business-related land sale).

Under 'Personal Income' scroll down to 'Investment Income', and Start under 'Stocks, Bonds, ...'

Say Yes you sold an Investment, No you didn't receive a 1099-B.

You'll get a screen where you need to type 'Land' as description (screenshot).

If the land sold is Business Property, under the 'Business' tab, scroll down to 'Less Common Business Situations' and Start at 'Sale of Business Property'.

Re: How do I enter the sale of land

Piry25 — Fri, 11 Mar 2022 13:35:10 GMT

I feel you I finish paying an accountant to do my land sale deal because I couldn't get it right. I spended the extra money for nothing last year.

Re: How do I enter the sale of land

bbee1958 — Tue, 05 Apr 2022 17:18:30 GMT

I need help finishing this form

Re: How do I enter the sale of land

JohnB5677 — Tue, 05 Apr 2022 17:45:58 GMT

If you are reporting a land sale in the Online program go to

Wages & Income
Scroll to Investments and Savings > Add an investment
Relax. We got it. >Continue
Let's import your tax info > Enter a different way
There are 5 boxes > Select Other > Continue
Tell us more about this sale > Post Land Sale
Now, enter one sale for Land Sale
1. What type of investment did you sell?
  1. Select Land (Personal or Investment)
Continue through the interview

If you have an additional question please reach out and provide some additional details.