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Sold rental property in 2022, asks for land sale price, anything I put in jacks up my taxes by a fortune plus don't know answer

@psyadam A Form 1099-S is not entered on a tax return.  Only the proceeds reported on the 1099-S are used to calculate gains or losses on the sale.

Sold rental property in 2022, asks for land sale price, anything I put in jacks up my taxes by a fortune plus don't know answer


@psyadam wrote:

Suggestions on how to enter it in case I do worry?


If you're entering the sales price in the Rental section (presumably), then you will need to allocate the total price between the asset (structure) and the land (if you entered the cost of land previously).

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