turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

We sold some land in 2020, How do I enter this in my taxes?

It was 0.7662 acres of our land
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

We sold some land in 2020, How do I enter this in my taxes?

Land sold is entered in the Investment Income section of the program.  Using the TurboTax online editions you will need to upgrade to Premier.

 

Enter investment sales in the Search box located in the upper right of the program screen. Click on Jump to investment sales

 

The sale is reported on Schedule D and Form 8949.  These are estimated to be available on 01/14/2021 for filing (subject to change)

DJS
Alumni
Alumni

We sold some land in 2020, How do I enter this in my taxes?

The sale of land is entered in the investment section of TurboTax. Follow these instructions:

  1. Open or continue your return in TurboTax.
  2. In the search box, search for sold second home and select the Jump to link in the search results.
  3. Answer Yes on the Did you sell any stocks, mutual funds, bonds, or other investments in 2019? screen.
    • If you land on the Here's the info we have for these investment sales screen, select Add More Sales.
  4. Answer No to the 1099-B question.
  5. On the Tell us more about this sale screen, enter the name of the person or institution that brokered the sale.
  6. On the next screen, select Second Home (choose this also for inherited homes) or Land and answer the questions to finish entering your sale.
Answers are correct to the best of my ability but do not constitute legal or tax advice.
**If this post is helpful please click on "thumbs up"**
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question