Carl
Level 15

Investors & landlords

Since the building was demolished, there is no depreciation to recapture. YOu "should" have shown this on your 2018 tax return so as to reduce your cost basis on the property to match the cost basis of the land, since the building was already fully depreciated. This would mean there should be "NOTHING" concerning this property reported on SCH E of your 2019 tax return.

You'll report the sale under the Personal Income tab in the investments section. Under that section elect to start/update Sale of Stocks, Bonds, Mutual Funds, Other. Your cost basis will be the cost of the land plus the cost of the demolition. (Demolition costs gets added to the cost basis of the land). There is "NO" depreciation to recapture. You are selling raw land. Again, your cost basis on this sale is the value of the land plus the cost of demolition.