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Deductions & credits
I allocated the purchase price of my rental to land and building. But only building was depreciated when I converted my second home to rental in 2022. I sold it in 2023. Should I just allocate the purchase price to building and not reflect any part of sale price to land?
			
    
	
		
		
		‎February 6, 2024
	
		
		5:58 AM