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October 13, 2021
Question

TT asks for purchase price of ranch land and then wants to apply depreciation. Since raw land is not depreciable what is the workaround?

  • October 13, 2021
  • 1 reply
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The land is leased for grazing. Never had an issue with prior years TT to report the income.

1 reply

Critter-3
October 13, 2021

Why are you trying to enter  land that you do not own as an asset ?   Back up and undo that entry. 

 

If you mean you lease out the land  for income then do not  enter the land at all in the asset section ... again back up and delete.