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duskygenie
Returning Member

are proceeds from sale of a vacant lot listed on federal return? if so, where?

 
2 Replies
DoninGA
Level 15

are proceeds from sale of a vacant lot listed on federal return? if so, where?

To report the sale of Land you will need the TurboTax Premier or Self-Employed edition.  Or any of the desktop CD/Download editions.

 

To enter an investment sale other than from a brokerage account (1099-B), follow the steps below.

  • Click on Federal Taxes (Personal using Home and Business)
  • Click on Wages and Income (Personal Income using Home and Business)
  • Click on I'll choose what I work on (if shown)
  • Under Investment Income
  • On Stocks, Mutual Funds, Bonds, Other, click the start or update button

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

On the next screen, click Yes

On the next screen, click No

On the next screen, choose Land and continue with the section until it completes.

duskygenie
Returning Member

are proceeds from sale of a vacant lot listed on federal return? if so, where?

Thank you

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