Rental Property Land Cost
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Returning Member

Rental Property Land Cost

I sold my rental property in 2020 and I entered my income, expenses, depreciation, purchase price, and the sell price. The property was sold for $1900 less than what I actually paid for the single family property. However, the software keeps asking for the land price, but the total selling price was for the dwelling and not the land. When I purchased the property over 10 years ago, the builder listed an amount for the land and for the dwelling but my selling price was based on the dwelling and not the land.


Do I need to list the land cost as $0 or the cost the builder listed when I initially purchased the property over 10 years ago. 

1 Reply
Employee Tax Expert

Rental Property Land Cost

If the sales price for the land is zero, put zero. This is unusual, however, that the land would be totally worthless.

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