Question

We sold a portion of our land (attached to the property where we live in our home ) We received 1099s where do I report that on TurboTax?

Forum|Forum|1 year ago
February 23, 2025
1 reply
0 views

We purchased the land in 2021 (sold a portion of that land in 2024 ) I know I need to report the capital gains ... just don't know where in the TurboTax questions....

M

MinhT1

In TurboTax Online, you can enter the sale of land by following these steps:

Open your tax return
Click on Federal in the left-hand column, then on Wages & Income
Navigate to the list of income categories
Locate the section Investments and Savings and click on Add/Edit
Continue until you arrive at the page OK, let's start with one investment type. Select Other and click Continue
Follow the TurboTax interview to enter your information.
If you incurred sale expenses, you can subtract them from the proceeds.