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How to enter the gain on sale of investment land?

idisjd
Level 2
 
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4 Comments 4
jeffmcpa2010
Level 11

Schedule D, then use the 1099-B worksheet. (Which is not quite correct, but it is the only place that works)

for the name, I would just put land,

then enter the information as best you can in the quick entry table. I get to the point as long as I come out with the correct gain reported, I quit worrying about the worksheet not fitting the situation correctly. 

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idisjd
Level 2

Thank you. I am using the 8948 box sale type F , this long term gain? jd

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jeffmcpa2010
Level 11

That looks like what I would do so long as the holding period was over 1 year

idisjd
Level 2

Yes, LT Gain, 5 years, and 15% rate.  You have been a great help.  This is my first time to do this and I am amazed with the results.  Thanks!! jd

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