How to report sale of inherited land from a non-US person and outside the US?

[jjpan_utah]

Is the sale (gain) considered "Ordinary" for 1099-B box 2?

[HelenaC · Accepted solution]

Inherited land sales, even from foreign persons and/or foreign land, are entered in the investment section of TurboTax. Follow these instructions:

1. Open your return in TurboTax.
   (To do this, sign in to TurboTax and click the orange Take me to my return button.)
2. In the search box, search for sold second home (use this exact phrase) and then click the "Jump to" link in the search results.
3. Answer Yes on the Did You Sell Any Investments in 2016? screen.
   • If you land on the Here's the investment sales info we have so far screen, click Add More Sales.
4. Answer No to the 1099-B question.
5. On the next screen, select Second Home (choose this also for inherited homes) or Land. Click Continue.
6. Follow the on-screen instructions to completion.

Related Information:

• Is the money I made from a home sale taxable?
• Where do I enter Form 1099-S?
• I sold my rental property. How do I report that?