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02-25-2018 04:43 PM
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.
Solved! Go to Solution.
03-06-2018 02:37 PM
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:
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:
Tax Research Specialist