Recently sold an acre of land purchased in 1990

[mln1985]

In January 2021, we sold an acre of land that we purchased in June 1990 for $50,000 dollars and sold for $75,000 dollars 1/21.  I need instructions on how to incorporated this transaction in Turbo tax deluxe application.  Please advise.

Thanks

[HelenC12 · Accepted solution]

Generally, the sale of land is reported as investment income and entered in the investment section of TurboTax.

• If you're using TurboTax Online, you'll need to upgrade to the Premier version.
• To enter the sale of land, please see Where do I enter the sale of a second home, an inherited home, or land on my 2021 taxes?