Help with "What kind of property is this loan for?"

[kelgilmore]

The options are "primary home" and "secondary home" and "other." The loan is for unimproved land. I would assume it would not be a "Second Home" since there's not a house there yet, but the examples listed for "other" are "rentals you don't live in" and "business properties", of which this is neither. Where does raw land fit, here?

[DoninGA]

It is an investment sale and the category is Land.

To enter an investment sale -

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, 1099-DA), click the start or update button

Using the online editions -

On the screen Did you have investment income in 2025? click on Yes

On the screen Save time and connect your financial accounts click on Enter a different way

On the screen How do you want to add your docs?, select Type it in myself

On the screen OK, let's start with one investment type, select Other and continue

[kelgilmore]

Thank you for responding. I'm not sure I understand, however. This was a loan for a land purchase, and if I understand right, your answer is about a sale?

[DoninGA]

@kelgilmore Sorry, went to fast and misread your post and entered how report a sale.

The purchase of Land is not reported on a tax return.

[Mike9241]

Construction loans. Are you financing the purchase of the land to build a first or second residence on, then if construction hasn't started, interest for the period until construction starts is not deductible.  There are other rules. However, if this is not your situation, please clarify as to why the loan.