So, I enter the $87,600 under the Sales Price and put nothing in the Land box? What expenses can I deduct then? The cost of this property was $92,584.00 per what shows up in Turbo Tax and I sold it for $87,600. I had to pay a realtor, closing costs and other escrow/settlement charges. Are these what I put into expenses? I am still confused as to what I am reporting. I hate to think I am going to have to take this to H&R after paying for this software.
