Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
C
crazydave68
June 1, 2019
Question

I sold my farm in 2017. Do i have to pay taxes on the capital gains from the sale

  • June 1, 2019
  • 3 replies
  • 0 views

I sold my farm in KY for a profit.  Do I have to pay Federal Capital gains taxes?

3 replies

C
CarolynM
Employee
June 1, 2019
Was this just your home or did you earn income from the farm?
C
crazydave68Author
June 1, 2019
Earned Income from the farm and No it was not my home.
C
CarolynM
Employee
June 1, 2019

Yes, you will pay capital gains on the sale. It is considered investment income for which there is no form 1099.

For more information on capital gains, follow this link: 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-short-term-vs-long-term-capital-gains-taxes-brokerage-accounts-etc/L7KCu9etn

 

C
crazydave68Author
June 1, 2019
OK where do I add the capital gains in TurboTax?
TurboTax Sign In Widget
TurboTax flag icon

Unlock tailored help options in your account

Create an account
TurboTax Expert Assist
TurboTax Expert

Get answers to all your tax questions

Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

Terms & ConditionsAccessibility statement
Intuit
TurboTax Credit Karma QuickBooks MailChimp

©1997-2022 Intuit, Inc. All rights reserved.
Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
of Intuit Inc. Terms and conditions, features, support, pricing, and service options
subject to change without notice.

Security Certification of the TurboTax Online application has been performed by
C-Level Security.

By accessing and using this page you agree to the Terms of Use.

Accessibility

TRUSTe nResult Certified e-File C-Level Security Certification