How do I get the land portion of a previous year's investment property purchase, into turbo tax?

I purchased income property 20 years ago and did not enter the land value in my taxes. I only entered the building. Now, in 2018, I have sold the property and need to apply the sale against the entire property, including the land. I don't know how to get the land into turbo tax to do this. Can someone help?

362

Intuit Alumni

Jun 1, 2019 9:38:02 AM

As my TurboTax colleague TaxGuyBill previously responded to a similar question:

Just add the land.

When it asks for the Basis, that should show the TOTAL Basis (land and building combined), then when it asks for the land Basis, enter the land Basis.

You can review the other similar question below.

https://ttlc.intuit.com/questions/4512823

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How do I get the land portion of a previous year's investment property purchase, into turbo tax?