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Get your taxes done using TurboTax
I added the rental property in 2017 with a cost not including the land cost, so 85,000 in your example. As such my cost of the property does not include the cost of the land, which I thought works fine for depreciation, but not when we sell the rental property since our cost is light by the cost of the land and our gain will be overstated by the cost of the land
‎October 24, 2023
10:12 AM