Land sold last year

[metjr340]

I sold a couple of acres of unimproved land (personally owned, not business or profit generating land).  I did some calculations at the time and figured my capital gains liability would be around $15,000.  However, when I entered the numbers using Turbo-Tax (Premier) that number jumped to $18,578. I found a couple of websites that also estimated my capital gains tax at no more than $14,800 (which was in the ball park I was expecting).  So, what box or entry am I missing to qualify for the 15% capital gain rate?  My income fits the rate and the gain length (long term greater than 2 years) also meet the 15% rate projection.   I have a 1099-S, which Turbo Tax doesn't really address well in the income section.  It is more programmed for stock or investment gains based on a 1099-G. 

[ColeenD3]

Where did you enter the land? It should have been in the Investement Section.

[metjr340]

Coleen, 

It is.  I entered it under the stocks, mutual funds, bonds, Other. That's the item that listed real estate under the "Learn More" button and indicated that 1099-S would be covered under this particular category.  My thought is that there is some line/block/button I should select that would solve this, but I don't seem to be able to figure it out.  metjr340 

This is a copy/paste of a portion of the "Learn More" I am refering to;

What Paperwork Do I Need?

- This income is usually reported on Form 1099-B or on a consolidated broker's statement.
- The income from the sale of land or a 2nd home is usually on Form 1099-S.

[ColeenD3]

Please see the two screen shots. One is the entry, the next shows zero tax on Capital Gain.