Yes, it is needed for the following reasons.
If you have more than one asset listed (and you would have at least two, building and land) you need to allocate the sales proceeds between those assets in order to get the assets "off the books" and out of your TurboTax program.
If you made a profit on the land, which is never depreciated, that gain would be a Capital Gain, not Depreciation Recapture. Capital Gain and Depreciation Recapture are taxed differently.
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