TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Question

Adding 1099s/Schedule D to 2018 Tax Return

Forum|Forum|7 years ago
June 3, 2019
1 reply
5 views

I Inherited a piece of property/land; which I subsequently sold ($10,000) and received a 1099s from the closing attorney. I did not make a profit on the sale however do I need to report it as income? Is Schedule "D" included with 2018 Turbo Tax Home/Business?

Level 15

You do need to report it. It goes on form 8949, then to Sch D.

In TutboTax, Type> 1099-s, sale of property other than main home <in the find box. Then "jump to".

Answer no, when asked if you received a 1099-B and follow the interview.

Your cost basis in inherited property is the fair market value (FMV) on the date of death of the decedent. Vacant land is treated as investment property; meaning any capital loss id deductible.