I bought a house in 2004 for $88,500 including the land. I am now renting it this year and am confused on what to list for the 'Total basis for the property' and the 'Basis for the land' in H&R Block Tax Cut software. I didn't know it would be so confusing. I have no idea what the land is worth so I don't know what to put. Any help would be greatly appreicated.
- posted
17 years ago