@Swaha155
Your HUD statement identifies specific selling prices for the land and the building and improvements? Please clarify.
If your HUD statement breaks down the selling price of the land from the selling price of the building and improvements, use the numbers on the HUD statement.
If you reported the separate cost basis for (1) the land and (2) the building and improvements, then you report the the sales price and the cost of sales for both (1) the land and (2) the building and improvements at the screen Sales Information.
The sale of the rental property is a sale of two assets, (1) the land and (2) the structure and improvements built on the land. The land cannot be depreciated, the structure and the improvements can be depreciated.
See also this help.
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