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April 11, 2025
Question

Where do I enter income from sale of real estate property?

  • April 11, 2025
  • 2 replies
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Not an installment sale…

    2 replies

    April 11, 2025

    In general, unless you are selling a rental property or your personal residence, the sale of real estate property is reported on Schedule D as a capital sale.

     

    Follow the steps in the TurboTax help article below for guidance:

     

    Where do I enter the sale of a second home, an inherited home, or land on my 2024 taxes?

     

    As you go through these steps, the main thing to remember is that you start by saying you have sold an 'other' type of property that generally will not be reported on a Form 1099-B.  Then, your method of acquiring the property could affect your basis.  
     

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    DoninGA
    April 11, 2025

    If the sale was not your primary home or a rental property -

     

    To enter an investment sale -

    Click on Federal Taxes (Personal using Home and Business)
    Click on Wages and Income (Personal Income using Home and Business)
    Click on I'll choose what I work on (if shown)
    Under Investment Income
    On Stocks, Cryptocurrency, Mutual Funds, Bonds, Other, click the start or update button


    Using the online editions -

    On the screen Did you have investment income in 2024? click on Yes

    On the screen Let's import your tax info click on Enter a different way

    On the screen OK, let's start with one investment type, select Other and Continue

    On the screen Tell us more about this sale enter a Name and Continue

    On the following screen select the type of investment sale on the dropdown What type of investment did you sell?

    Continue with this section until it completes.