Thanks. If I decide not to amend the prior returns, I’m trying to understand what happens to the 100k land value? Can I use that when selling the house? Is the land value reported to the IRS? In my case above what would be my rough capital gains if I decide not to amend my prior returns? I’m trying to see would I be under the 500k limit or over ? (I undertand the depreciation capture is a subject to taxes either way).
