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budgerhardt
Returning Member

sale 320 acres vacant land sonoma county calif.. 4-2023. what form do I use

 
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JohnB5677
Expert Alumni

sale 320 acres vacant land sonoma county calif.. 4-2023. what form do I use

If the 4-2023 means that you sold the land in 2023 you will have to prepare or amend the 2023 tax return.

You would also prepare a 2023 California tax return.

 

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, 
  3. Then on Wages & Income 
  4. choose Investments and Savings and click on the down arrow on the right
  5. Click on Stocks, Cryptocurrency, Mutual Funds, Bonds, Other (1099-B)
  6. Did you sell any investments?
    1. yes
  7. Did you receive a form 1099-B or brokerage statement? 
    1. No
  8. Select Land (other investment purpose) from the list of investments.
  9. Follow the TurboTax interview to enter your information. 
    1. If you incur sale expenses, you can subtract them from the proceeds.
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