PatriciaV
Employee Tax Expert

Deductions & credits

Because the house has value of its own, you would need to include the fair market value of the house with the land under it. Your property tax statement may have a breakdown for the value of the land separate from the house. If so, you could use that as a percentage for the land portion that you sold.
For an example, see the answer to this question: <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3772006">https://ttlc.intuit.com/questions/3772006</a>
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