How would I determine the cost of the land vs. building? My tax assessment shows what the city thinks the house and the land (separately) are worth but they have nothing to do with how much I paid. Do I just use that as formula and plug in the amount I paid and use the percantges that the city uses? Also, where does the amount the county paid me come into play? What if it's more or less than the amount I've determined that the 800 sf is worth (based on what I paid for the property)? Finally, where do I find the place to enter this in TurboTax? I'm thinking more and more that this year I should just use an accountant. Thanks.
