@stevekayak wrote:
So, my question is, how do you 'add to the basis of my (rental) property land' in Turbo Tax? Does TT need to know that my investment in the land just got bigger or do I simply stash that information away until I sell the property and have to figure capital gains?
Actually, it is better suited in a new thread but, regardless, you do not need to add to the basis of your land in TurboTax as the program will do nothing whatsoever with that information.
You should, however, be tracking your basis outside of TurboTax (either using accounting software, a spreadsheet, or a facsimile thereof).
