Question

I sold farm acerage that I herited in 2020 And I need to file Schedule D

Forum|Forum|5 years ago
January 26, 2021
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Where do I find the Schedule D in Turbo Tax?

You can find Schedule D in TurboTax Premier, TurboTax Live Premier, Self-Employed, and TurboTax Live Self-Employed (online) and in all personal CD/Download versions of TurboTax.

To enter sale of your farm follow these steps:

Open your return if it's not already open.
Search for Schedule D and select the Jump to link at the top of the search results.
Answer Yes to Did you sell any stocks, mutual funds, bonds, or other investments in 2020?
Follow the instructions to enter your farm sale.

The basis of your inherited farm is the Fair Market Value (FMV) of the property at the date of the death or the FMV of the property on the alternate valuation date.