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Investors & landlords
You will have to break up the sale into two parts. Subtract out the land as property that can't be depreciated and enter it separately under the next section, Sales of Other Business Property. You will subtract it from both cost and sales price. Allocate the sales expenses between the two separate entries. The land is entered in Part I, the building in Part III
‎June 6, 2019
1:02 AM