topic How do I classify on Turbo Tax Business the asset of just land? in Business & farm https://ttlc.intuit.com/community/business-taxes/discussion/how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/848986#M33077 Sat, 07 Sep 2019 03:21:23 GMT aliceannebrown 2019-09-07T03:21:23Z How do I classify on Turbo Tax Business the asset of just land? https://ttlc.intuit.com/community/business-taxes/discussion/how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/848986#M33077 Sat, 07 Sep 2019 03:21:23 GMT https://ttlc.intuit.com/community/business-taxes/discussion/how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/848986#M33077 aliceannebrown 2019-09-07T03:21:23Z Re: How do I classify on Turbo Tax Business the asset of just land? https://ttlc.intuit.com/community/business-taxes/discussion/re-how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/849107#M33079 <P>Classify in what way and for what purpose?</P> <P>&nbsp;</P> <P>Land is an asset and although typically held as "investment property" (except where it is held for personal use), it is not subject to deductions for depreciation.</P> Sat, 07 Sep 2019 16:17:17 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/849107#M33079 Anonymous_ 2019-09-07T16:17:17Z Re: How do I classify on Turbo Tax Business the asset of just land? https://ttlc.intuit.com/community/business-taxes/discussion/re-how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/849108#M33080 <P>Land is classified as "land".&nbsp; Land is not a depreciable asset&nbsp; and it is usually not entered anywhere on your tax return or in TurboTax.</P> <P>How are you using your land, in your business?</P> Sat, 07 Sep 2019 16:17:46 GMT https://ttlc.intuit.com/community/business-taxes/discussion/re-how-do-i-classify-on-turbo-tax-business-the-asset-of-just-land/01/849108#M33080 Hal_Al 2019-09-07T16:17:46Z