No the HUD does not have a breakdown. My question was do I use the sales price on the HUD as the home cost and then also put the land value on the land line, so the addition of those two numbers would be above the sales price? OR, do I reduce the home cost by the land value so that when the two numbers are added, the total equals the sales price on the HUD?
Also, I realized that I never depreciated the home!!! An advisor on my thread said I could amend the past 3 tax returns, but I believe I'd have to file 1 3115 to change the accounting method, which would likely be a nightmare. Is it best just to let that go and eat the loss?
