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R
rickb73
March 12, 2025
Question

Can anyone help me enter the sale of land (at a loss) in TurboTax ?

  • March 12, 2025
  • 1 reply
  • 0 views
I sold land in 2024 at a considerable loss and am hoping I can get some kind of tax credit. Does anyone know if that is an option or how to enter into TurboTax ?

1 reply

M
Mike9241
March 12, 2025

if it was held for investment, the info would be entered in the investment income section. stocks, bonds other

the basis version doesn't allow this. you would have to upgrade. 

KrisD15
KrisD15
March 12, 2025

You can enter the sale under 

Wages & Income

Investment Income

Stocks, Cryptocurrency, Mutual Funds, Bonds, Other     START

 

Select "Add investments" if needed to open the section

Select "Skip import"

Select "Other" for investment type 

 

If it was an investment, the loss would be recognized. 

 

@rickb73 

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