Yes. You will need to claim the sale on your taxes if you are filing a joint return.
You would enter the sale of the land by clicking the following:
- Federal
- Income
- Show More next to Investment Income
- Start next to Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
- Select Other
- Continue through and select land for the type of investment
- Answer how you obtained it
- You will need to enter the selling price, dates and the cost basis
Note, your navigation sequence may be slightly different. You can also use the Jump to feature by entering investment sale in the search bar at the top of the screen.
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