Enter the value of land on Form 8829, line 37
To assign land to a home office and carry the land value to Form 8829, line 37, set up the land as a separate asset in the Asset tab.
- Go to theAssettab for the appropriate activity (e.g. Schedule C, etc.).
- SelectAdd.
- Enter aDescription,Date in service, andCost/Basis.
- On theDepreciationtab, selectLandas the Method.
- Go to theHome Officetab and selectLandfrom Type of home office asset.