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TT Land Value and Improvement Value for my new rental question
I inherited a home in 2021, I rented out in 2023. TT is asking for Land Value and Improvement Value from my "tax bill".
In 2021 I did an Appraisal Upon Death & it was appraised at $680.
Between 2021 & 2023 I put in almost 30k in improvements.
I have a 2023 Tax Statement with "Primary Limited Values" that includes the "Land/Building" total only, not broken out, total $670.
On the same tax statement it also shows "Secondary Full Cash Values" for "Land/Building", not broken out, 1 mill.
What amount do I put into the Land Value space and what amount in the Improvement Value space?
‎April 2, 2024
5:04 PM