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wcrewstx
New Member

I sold a piece of raw land this past year that had no improvements to it. How do I enter the sale of the land?

The lot was approximately two acres.
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3 Replies
MinhT1
Employee Tax Expert

I sold a piece of raw land this past year that had no improvements to it. How do I enter the sale of the land?

In TurboTax Online, you can enter the sale of land by following these steps:

 

  1. Open your tax return
  2. Click on Federal in the left-hand column, then on Wages & Income
  3. Navigate to the list of income categories
  4. Locate the section Investments and Savings and click on Add/Edit
  5. Continue until you arrive at the page OK, let's start with one investment type. Select Other and click Continue
  6. Follow the TurboTax interview to enter your information. 
  7. If you incurred sale expenses, you can subtract them from the proceeds.

 

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I sold a piece of raw land this past year that had no improvements to it. How do I enter the sale of the land?

through the investment section > stocks other

date sold, date acquired, sales price, cost including selling costs, and type, B if held short-term, E if held long-term

wcrewstx
New Member

I sold a piece of raw land this past year that had no improvements to it. How do I enter the sale of the land?


Perfect.  Thanks for the answer.

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