How do i report the sale in 2015 of unimproved real estate purchased in 2004

[hippchen301]

where do i report it on 1040 ?

[DoninGA · Accepted solution]

The sale of the property in 2015 can only be entered on a 2015 tax return.  See this TurboTax support FAQ on amending a 2015 tax return originally completed using TurboTax - https://ttlc.intuit.com/questions/3410543-how-do-i-amend-change-or-correct-a-2015-return-in-turbotax

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, Mutual Funds, Bonds, Other, 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 next screen, click Yes

On the next screen, click No

On the next screen, choose the option that pertains to the type of investment sale you are reporting and continue with the section until it completes.