DianeW777
Expert Alumni

Investors & landlords

No you cannot add the unclaimed depreciation from the structure to the land.  The reason is because it is part of the cost basis being used to determine your overall casualty gain or loss due to insurance proceeds.

 

The land should have had a portion of the cost of the entire property when it was first placed on the depreciation schedule.  You can use that amount if you actually set aside a land value at the time.

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