Land does not depreciate for tax purposes, so the terms "real estate" and "real property" can be confusing when discussing depreciation. All that matters is the structure, and how the structure is used for business. The zoning of your land has no effect on depreciating the building.
To correctly enter the new building as a business asset in TurboTax, select "Real Estate" then "Nonresidential Real Estate" on the next screen. Enter the total cost of the building on the next screen. Leave the "cost of land" box empty in this case.
