@Jerry1142 wrote:
For sale of a rental property, how do I allocate sale price and expenses to land vs asset? The sale was for both together with no breakout of land or asset separately. What is the common strategy used to determine the portion of the sale price for just the land?
Land is never depreciated. If you do not know value of the land at the time of sale then enter the same amount you used when entering the property as an asset. The land value is usually shown on the property tax bill you receive from your county/city tax assessors office each year.
