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    #1

    sale of soil

    I am not sure where to report sale of soil on a partnership return. The partnership scraped off the black dirt to level the lot and created a pile of soil. it is now 3 years later and they sold the soil.
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    #2
    Well, I would venture to say you have a sale of "land" to report on a Schedule D, but I don't know how you are going to figure the basis! I would probably use the cost of the scraping and let it go at that.
    Last edited by Burke; 03-21-2015, 06:45 PM.

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      #3
      Agree. Sale of land ... a LTCG. Report on Schedule D (via F-8949). Basis = Cost of scraping plus any other costs related to the sale.
      Roland Slugg
      "I do what I can."

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