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shf1957
Level 6
February 20, 2026
Solved

how to report sale of land that was involved with main home but not selling the main home and land area

  • February 20, 2026
  • 2 replies
  • 8 views

Client is getting old and decided to sell off 27 acres of his land hooked to his home that had originally 35 acres.  He and his wife are keeping the 8 acres with their primary home on iit.   There was not a 1099b issued as of this point and don't know if they will get one and just want their taxes done.

I was thinking it should go onto a schedule D but when I started to enter it on the form that attaches to the schedule D.it is mainly for stocks and wants that type of info.

Thank you in advance for any and all help possible.

 

Best answer by ljr

use the asset sale worksheet from the schedule D 

2 replies

ljr
ljrAnswer
Level 9
February 20, 2026

use the asset sale worksheet from the schedule D 

shf1957
shf1957Author
Level 6
February 20, 2026

I opened that , so do i report it down where you enter stock information?   (sale 8949) 

Level 6
February 21, 2026

Remind the client that if they sell their residence & remaining land with 2 years of the initial land sale, they can take the §121 exclusion and possibly exclude the gain from the initial land sale.