Get your taxes done using TurboTax

If you correctly identified the property as "residential Rental Real Estate" when you entered it, then you were asked for two things:

1. Total cost basis of the property.

2. Cost basis of the land.

Then, the program (not you) subtracts the cost basis of the land from the total cost basis and sets that as the depreciable cost basis of the structure.

The screen that asks for this information looks as below (in the desktop version of TTX 2022). So do you have a figure in both the total cost and cost of land boxes?