How do I report a sale ofunimproved property?

Here is how to enter all the possibilities since you did not say what kind of property. It could be a main home, second home, lot, rental property, inherited property or business related. Here is how to enter:

 1. If it was your main home that you lived in 2 out of 5 years, you may not need to report the house sale at all.

 See Topic No. 701 Sale of Your Home.

1. Go to the income section:
2. 1. click on Add More Income
3. 2. Scroll down to Less Common Income
4. 3. Show more
5. 4. Sale of home
6. Continue through the questions.

2. If it was your second home or a lot, it goes on Sch D.

1. Go to income section 
2. click on Add More Income
3. scroll down to Investment Income
4. Show more
5. Stocks, Mutual Funds, Bonds, Other
6. Start:  Continue answering the questions.
   1. Yes,
   2. 1099-B - no,
   3. one sale at a time and the boxes appear for your entries.

3.If this was part of a real estate group business transaction, it goes with your business return.

4. If it was a rental house, go to your depreciation and mark that you sold/disposed of the property and continue through that section. See Need to enter sale of rental property where do I find this schedule?

Inherited house has a cost basis equal to the fair market value on date of death plus any improvements (since inherited) plus expenses of sale.

Sale of business property with a loss is reported on form 4797 while property that was held for investment purposes would be on form 8949. For details see Sale or Trade of Business, Depreciation, Rentals | IRS

You need to return to your rental property and edit.

1. Scroll down to assets/ depreciation, edit
2. Go to asset summary, yes, continue
3. Select the house, edit
4. continue, continue, continue - basis adjustment in this area, if needed
5. Tell Us More About this Rental Asset
6. Select the box beside the item was sold, retired....
7. Fill in the date you sold box
8. Continue
9. Special Handling Required? No
10. Home Sale? No
11. Sales Information, enter sales price and sales expenses, continue
12. Personal residence? No
13. Results.

You sold all the assets you were depreciating when you sold the house. You will need to go through and mark each item as sold. The other items will have a sales price of zero.