How do we claim the income made on a property that is not our home? we owned a lot for 3 years then sold it in 2017

[KittyM · Accepted solution]

A property such as you describe is considered an investment property and is reported as follows in TurboTax;

• In your open Federal return, select Wages & Income
• Scroll down to Investment Income and Show more
• Start/Revisit Stocks, Mutual Funds, Bonds, Other
• Add a sale and answer No to Did you get a 1099-B or a brokerage statement for these sales?
• On the next page Choose the type of investment you sold, select the radio button for Land and Continue 
• You are now in the interview to report the sale of your lot.