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Get your taxes done using TurboTax
A few things that occurred to me overnight.
Since you've now got the land and the structure split as two separate assets, you can also just convert the land to personal use if you want. All the information will still be retained in the program. since there's no depreciation involved with the land, it won't affect anything, even when you report the sale of that land on next year's tax return. In fact, I think that would be the better way to go. But I really don't see any issues with what you have already. Up to you.
‎January 10, 2023
7:29 AM