Main home on 2 lots

[StuKH]

I have 2 lots sitting next to each other. Our home is on one lot but right on the edge of the 2nd lot. Do I enter the property tax on the main home for both lots or do I enter the property tax for the 2nd lot on the "Additional homes or land" box?

I receive 2 statements from the county - one for each lot. 

[JamesG1 · Accepted solution]

Would you ever sell the second lot?  Do you consider it an investment property?  Are you allowed to sell the second lot since you built your home so close to the property line?

I suspect that you consider the second lot as part of your home since you built so close to the property line.  I would add the two together and enter as the main home.

[StuKH]

I imagine the 2nd lot could be sold but as long as we live here we won't.

Thanks for the quick answer. Much appreciated.

[ColeenD3]

This also might be a consideration for the future and an incentive to combine them.

You can include the sale of vacant land adjacent to the land on which your home sits as part of a sale of your home if ALL of the following are true.

• You owned and used the vacant land as part of your home.
• The sale of the vacant land and the sale of your home occurred within 2 years of each other.
• Both sales either meet the Eligibility Test or qualify for partial tax benefits, as described earlier.

Also, if your sale of vacant land meets all these requirements, you must treat that sale and the sale of your home as a single transaction for tax purposes, meaning that you may apply the exclusion only once.

However, if you move your home from the land on which it stood (meaning you relocate the actual physical structure), then that land no longer counts as part of your home. For example, if you move a mobile home to a new lot and sell the old lot, then you can’t treat the sale of the old lot as the sale of your home.

@StuKH