Bought a vacant lot in Cloudcroft NM for $30,000 in Jan. 2005 and sold it for $30,000 in Oct. 2016. This is obviously a loss but I don't know how to report it..

[odonnell-pat]

this was not business property but an investment.

[MiriamF]

Investments are reported on Schedule D. To enter this in TurboTax, follow the instructions below.

https://ttlc.intuit.com/replies/4241480

[odonnell-pat]

What's missing costs I incurred at closing - s3000 broker fee, $232 gross reception tax, $273 property tax. Final balance I received was $26,469.

[MiriamF]

Then that is what you should enter for the sale price. There are usually costs when you make the purchase as well. The additional purchase costs increase the basis, and decrease the sales price. Since this was just an investment, you can claim the entire loss. See IRS Publication 523 page 7: How to Figure Your Gain or Loss Worksheet. For the basis, enter the sales price plus the costs of sale. For the sales price, enter the selling price minus the costs of sale.