Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Where/How to claim $30K capital gains on sale of vacant lot (personal property)?

Highlighted
Level 1

Client bought vacant lot for $3K in 1970 (personal use) and sold the lot for $40K in 2019.

Where/How do I claim the $37K cap gains? SchD on the same lines we use for stock sales? Some other form?

THANK YOU!!!

0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15
Level 15

Same place as a stock sale.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

3 Replies 3
Highlighted
Level 15
Level 15

yes, Sch D


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
Level 1

Thank you! Now, where to report this cap gains on schD? Same lines I'd use to report stock sale (purchase date, purchase price, sale date, sale price, etc?) or is there a special area of schD to report sale of personal property? again, thank you!

0 Cheers
Highlighted
Level 15
Level 15

Same place as a stock sale.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post