I am not sure that you are correct. I believe I can just leave the land as the same amount as when it was entered into service as no improvements were made to the land.
Separately, please can you tax experts on here chime in on whether capital improvements made in the year of sale is all directly entered as a selling expense? My understanding is that even if there is any lag (as there was in this case since the repairs were completed by September 30th and the sale occurred on December 1st and the house was just vacant at that time) then that lag from repair completion date to sale today can be depreciated (in this case it was 2 months)?
