All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎02-25-2018
Accepted Solution

Perpetual Land Rights

I sold easement rights to the gas company. This allowed them to tunnel under my land to install new gas lines. The gas company sent me two forms.

1. 1099-S Payment for Perpetual Land Rights and

2. 1099-MISC Smaller amount but it involved the same transaction they never put a description on the breakdown.

 

How are these used in my on line filing? It appears I get into the area as if I have sold my house.

Associate (Pioneer)
Posts: 253
Registered: ‎01-08-2018

Re: Perpetual Land Rights

Hello tking113,

 

Regarding how to enter the sale of easement rights in the H&R Block online tax program, this will not be entered in the "Sale of Home" section. Instead, the Form 1099-S information will be entered in the section called "1099-S Sale of other real estate, collectibles, and other investment property." The 1099-S information entered in this section will be reported on Schedule D and Form 8949.

 

To get to the "1099-S Sale of other real estate, collectibles, and other investment property" section in the H&R Block online tax program, follow these steps:

  1. Click Federal
  2. Click Go to last screen I completed
  3. Click [Next]
  4. Click Income
  5. Click [Yes] green button
  6. Find Sales and Transfers
  7. Click [Add +]
  8. Click [Visit Topic] 1099-S Sale of other real estate, collectibles, and other investment property
  9. Click [Add Sale] button
  10. Then, follow the next screen instructions to enter the 1099-S information.

Now, as for the 1099-MISC document, if this was a different type of payment from the same transaction, then it gets entered in the "income not reported anywhere else" section in the online tax program. You get to that location by following these steps:

  1. Click Federal
  2. Click Go to last screen I completed
  3. Click [Next]
  4. Click Income
  5. Click [Yes] green button
  6. Find Less Common Income
  7. Click [Add +]
  8. Click [Visit Topic] Income not reported anywhere else
  9. Then, follow the next screen instructions to enter the information.

 

Regards,

 

Lawrence

Tax Research Specialist