I recieved a 1099s for a portion of our property bought out by the county for road improvements. Where do I put this form on my taxes?

[JohnW15 · Accepted solution]

Amounts received for granting easements aren't reported as income on your tax return, and you don't need to include Form 1099-S with your tax return.

Rather, the payment lowers your basis in the property, and that only becomes important later, if and when you sell the land.  The only time you'd report the payment as income is when the payment exceeds your basis in the property.