We bought land and later built a house, then 13 years later sold house and vacant land next to it but profit from both was $200,000, so where and how do we report it?

[krfoxworth]

Land purchased in 2002 and house built in 2005. I see where to put purchase date for house, but how to handle vacant land not there.

[DanielV01]

Did you live in the house and is the lot separate from the house?  What was the value of the land when you purchased and when you sold?

[krfoxworth]

Lived in house. 105 acres around house for hunting/recreation. $195000 purchase, $300000 selling.

[DanielV01 · Accepted solution]

Land is handled on Schedule D.  Since land is not depreciable, the increase in price is a capital gain.  Land that is sold as part of your home's property is included with the sale of the home itself and subject to the Home Exclusion treatment.  But if the land was separate from the home, you will report the sale of the land separate from the house on Schedule D.  You can access by typing in "Schedule D" in the Search Box (magnifying glass), and then click on the Jump to link.