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New Member
posted Apr 23, 2022 6:43:40 AM

I have capital gains to declare, I already have my schedule 3 prepared where does this info get input?

where do you enter a capital gain from farm land sold that was not my principle residence?

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1 Replies
Level 4
Apr 23, 2022 2:06:00 PM

For qualified farm land property, that would be line 2 of your schedule 3 - "Qualified farm or fishing property". To find this on TurboTax Online:

> Sign in and click your current return.

> On the left navigation pane, click "Income", "Investments", then "Capital Gains and Capital Gains Deduction Profile"

> From here you will check the first and second option. This is because you should be eligible for the Capital Gains Deduction on your farm property.

> Now you must indicate your type of property as "Qualified Farm Property" and continue to input all information associated.

Make sure to click "Continue" so that your information is saved.

 

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