The value of the land is not entered on a Form 4562 Depreciation and Amortization since it cannot be depreciated. The IRS only needs to know the value of the residential rental property less the value of the land. Since you have no land value there is no need to enter land value. All of the condo value is being depreciated. If the program will not accept a blank for the land value, then just enter a 0 (zero).
