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

sam_tayebali · ‎June 6, 2019

IsabellaG · ‎June 6, 2019

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

IsabellaG · ‎June 6, 2019

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Expert does your taxes

Do it yourself

Resources

Support

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