I need clarification on one thing if I could.
When you said "You will only allocate the structure sales price; you will NOT allocate the land sales price, since the land is not a depreciable asset. " were you referring to the Sales Information under the Business Income and Expenses category?
This section asks the Asset Sales Price, Asset Sales Expenses, Land Sales Price, and Land Sales Expenses (all Business Portion only).
I ask this because I filled this out and separated the asset and land prices before I read your reply, then I combined them under just the asset sales price as per your instructions, which resulted in $2k higher taxes even though all the totals equaled.
The instructions say "You must divide, or allocate the sales price and expenses between the land and the asset (improvement) based on their fair market values." then gives the four fields for the items I mention above.
I don't know if I've mistaken this screen for another that you described or if your instructions pertain to these entries.
Thanks again.
