Land Investment

[Farles]

I invested in land 10 years ago and the investment is finally starting to pay off. Details:

- Invested via a company who manage all aspects, it is 100% passive for me

- The first sale was only partial, about 11% of the initial investment

- The first sale was about 30% above my proportional purchase price

- There is no guarantee the remaining 89% will ever be recovered

- I have not been told what tax form I will receive yet, waiting for their reply

My question is: Do I have to report a 30% gain on this fractional sale or can I treat it as a return of capital and only report the gain once my whole investment is returned (may or may not happen) and I start making profit on the whole investment?

Does Turbotax handle this kind of transaction?

Thanks!! Tim

[Anonymous_]

Wait until you receive a tax reporting statement,

If you have questions in the interim, contact the company.