Hello, I sold the rental property last year on 05/1/2019 for $670,000. The expense was $22,180 (including all the eligible expenses). On the sales information screen, should I spilt up asset sales price and land sales price? If so, should I take the % of house vs land based on the cost basis?
For cost basis, I bought the property on 1/4/2006. Cost - $645,900, and cost of land - $218, 300. I converted the house to rental property on 01/01/2008, should I use the market place price for cost basis at that time? I have about $15K in depreciation. Thanks for your help!!
