848986
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

aliceannebrown
Returning Member

How do I classify on Turbo Tax Business the asset of just land?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

How do I classify on Turbo Tax Business the asset of just land?

Classify in what way and for what purpose?

 

Land is an asset and although typically held as "investment property" (except where it is held for personal use), it is not subject to deductions for depreciation.

Hal_Al
Level 15

How do I classify on Turbo Tax Business the asset of just land?

Land is classified as "land".  Land is not a depreciable asset  and it is usually not entered anywhere on your tax return or in TurboTax.

How are you using your land, in your business?

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question