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When filling out the form 1041 in turbo tax business it inquires about the sale of the house. What about the sale of land held by the decedent.? Where is that shown in the questionaire/interview in turbo tax? How is the sale recognized in schedule d, form 8949.? Do I have to overside to enter it. ? I am sure to get a 1099-S when the land sells. Its not land used for private resident when my mom was alive. Its vacant land out of state
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If the land has not been sold yet, you would not report a land sale on the current year tax return. However, completed land sales are entered in TurboTax Business (1041) under Investment Income >> Stocks, Mutual Funds, etc. The information you enter will be used to compete Form 8949 as part of the estate return.
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