I rented a purely land property since 2009 and sold it in 2018. There are no other assets on the property - no improvements, no vehicles, etc. I received a 1099-S.

[Coleen3]

Did you collect rent in 2018? Have you been using Turbotax to report the rent in previous years?

[shaksm]

Yes and Yes

[shaksm]

Purchased in 1994 for $1 from my parents.  Started renting, and claimed it as rent, in 2009.  Sold in 2018.

[shaksm]

Received 1099-S as part of the sale.  It is only land - no buildings on it, no improvements.

[Coleen3 · Accepted solution]

Since you can't enter the sale under the depreciation/sale section since it won't allow you to enter without depreciation, enter the sale as follows.

Sale of land gets reported in TurboTax as a sale of an investment.

Please follow the following steps to record the sale in TurboTax:

• Within your return, select Federal Taxes tab
• Select Wages & Income tab
• On "Your income" page, click Start button for Stocks, Mutual Funds, Bonds, Other
• On "Did you sell any investments in 2018?", click on Yes button
• On next page, answer whether or not you received a 1099-B or a brokerage statement for the sale
• On next page, "Choose the type of investment you sold", select radio button for Land and click on Continue button
• Enter the details of your land sale on the next page, "Enter Land Sale Information" and click on Continue button
• On next page, select radio button for the way in which you acquired the land and click on Continue button
• On next page, "Any Business or Rental Use?", indicate how you used the land and click on Continue button
• On next page, "Enter Cost Information", enter Date Acquired and Original Cost and click on Continue button
• TurboTax will then calculate your gain on the investment in land, indicate whether it's short- or long-term, and indicate your Proceeds and Cost Basis
• You can proceed further and add any additional similar investment sales in like fashion