How and where do I enter the partial sale of rental property adjacent vacant land? I sold part of 23 acres of land that my rental mobile home sat upon. I'm still renting the mobile home and the 4 acres it sits on. I just sold off the adjacent vacant land at a lose because the renters never would take care of the mowing etc.. Since this was used for rental income, does the sale get logged as income asset sale? I know the land is not part of the basis for the rental and that land is not depreciated, but I would like to use the lose to reduce my taxes if possible. How and where do I enter such an event?
