We inherited some farm land three years ago, sold it last year 2016 should I have received a 1099-S? how do I report this on my taxes

[Cattlerancher · Accepted solution]

Usually the transferring agent will send a 1099-S. If you don't receive one, I would call them to find out for sure. If you don't receive one, you can enter the transaction using your closing statement. Land sales are entered under Investment Income, Stocks, Mutual Funds, Bonds, Other (Schedule D).