Sale of farm land

Forum|Forum|3 years ago
February 6, 2023
1 reply
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My wife inherited a share in her family farm upon the death of her mother. It was decided to sell the farm in 2022. The farm is in a different state than the one we live in.

I am unable to figure out where to show this transaction in Turbotax.

If I use the Investment Income section, I do not see where I can enter a location for the transaction.

I tried using Rental Properties and Royalties, but could not find the appropriate option for the sale of the property.

I originally purchased the Deluxe edition, but upgraded to Premier online.

Thanks

TomK2023

Because these types of sales are considered investment sales, you need to enter this info in the investment section of TurboTax.

Please see this TurboTax Help FAQ for step-by-step instructions: Where do I enter the sale of a second home, an inherited home, or land on my 2022 taxes?

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Sale of farm land

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