To enter the sale of your nondepreciable asset (land) please follow these steps:
- On the Review Your Rental Summary screen, click the Start/Update box next to Sale of Property/Depreciation.
- On the screen Depreciation for Your Rental Property, mark the No box to answer Do you have any assets for this property that can be depreciated and click Continue.
- On the screen, Review Your Rental Summary, click Done with Rental Property.
- You should see a screen, Any Other Situations? Mark the box, I disposed of nondepreciable assets such as geothermal property and click Continue.
- On the Asset sales worksheet summary, click Edit next to the asset.
- On the Asset sales summary screen, click Edit on the line next to the land.
- Enter the sales information on the next screen, Enter the following information for this non-depreciable asset sale.
- Click Continue.
- Click Done until you reach the screen, Your Profit or Loss Results So Far.
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