Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Feb 13, 2024 5:40:34 PM

I have a 1099-S from the sell of a undeveloped piece of land, not my primary residence, Can anyone tell me where is enter this in Turbo Tax?

sell of undeveloped property. I have a 1099-S

0 2 721
2 Replies
Level 15
Feb 13, 2024 5:46:36 PM

Enter the sale of land as an investment sale.

  • Federal Taxes
  • Wages & Income
  • Investment Income
  • Stocks, Cryptocurrency, Mutual Funds, Bonds, Other

 

Level 15
Feb 13, 2024 5:49:22 PM

The Form 1099-S by itself in not reported on a tax return.  However, the proceeds received and reported on the Form 1099-S are entered when reporting the sale of the property on tax return.

The sale of land is reported as an Investment Sale and you will need to upgrade to the Premium online edition as the Deluxe edition does not support this type of sale.

 

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), 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