To enter the sale of your land, see Where do I enter the sale of a second home, an inherited home, or land on my 2020 taxes?
Note: If the land was held for personal use, generally, property held for personal use is a capital asset.
- A gain from the sale or exchange of that property is a capital gain and taxable.
- A loss from the sale or exchange of that property is not deductible.
- You can deduct a loss relating to personal-use property only if it results from a casualty or theft.
You may also need to file a tax return in the other state. See Why would I have to file a nonresident state return?
No, you can't deduct the upkeep expenses you had for 13 years. Miscellaneous deductions subject to the 2% limit, have been repealed for tax years 2018–2025.
- Until 2018, vacant land carrying costs, such as, landscaping, insurance, and travel expenses, could be deducted as miscellaneous itemized deductions on Schedule A, but only to the extent the exceeded 2% of the taxpayer's adjusted gross income.
If the advertising cost was a part of your selling expense, yes, you may deduct it.
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