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New Member
posted Jun 6, 2019 9:59:02 AM

I sold a condominuim and the program is asking for Land value?

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Expert Alumni
Jun 6, 2019 9:59:03 AM

Depending on where the condo is located, you may own a percentage of the common elements, including land. A property tax bill may help determine how much of the cost basis/sales proceeds should be allocated to land ownership.

See page 15 of this IRS Publication for information on condos.

1 Replies
Expert Alumni
Jun 6, 2019 9:59:03 AM

Depending on where the condo is located, you may own a percentage of the common elements, including land. A property tax bill may help determine how much of the cost basis/sales proceeds should be allocated to land ownership.

See page 15 of this IRS Publication for information on condos.