KrisD315 - thanks for the response.
I entered nearly 28k in depreciation which I took from the 2023 Form 4562. I added the prior and current amounts listed on that form to get 28k. Earlier in TT, I think I saw a depreciation amount of 27k which is why I added the 1000.
Every year the property was rented I listed out expenses such as mileage, taxes, insurance along with improvements, maintenance, etc. TT calculated depreciation every year I filed taxes.
Do I need to factor that in somehow? In the current section of TT there's not anyplace to do that.
I did not use any depreciation to adjust the sale price of 310k.
The 280k price would be the property value after taking out the land value of 31k
The tenants moved out in 11/2023 so the rental property was vacant while I waited to sell it.
Where or how would I enter the land value as being sold? Under the current section, I listed out the total sale price which was the lot and house. the 1099S doesn't break it out by land and asset value.
