I purchased my rental property as land and then built the house. How do I enter the construction value of the house into Schedule E?

[lancegmorton]

The Total Cost When Asset was Acquired (#4) is only the land value, which apparently cannot be the same as Line 8: Total Amount of Land Included in the Cost. Should I include the entire amount of the home construction in Line 4?

[Anonymous]

the total cost line 4 would include land and the construction costs.  then you can enter the land cost line 8.  the land cost will be deducted from the total cost when computing depreciation

or you can enter 1 asset as the construction cost and a second asset as the land cost