Deductions & credits

The land was purchased in 1976 for approx $3,650. Sold in 2016 for approx $20.000. The value in 2007 was approx $30,000 to 35,000  according to realtor's appraisal in 2007. As with a lot of investment land values dropped in the late 2000s. I decided to just get rid of it and be done with it to avoid further HOA and tax payments.