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Old 03-02-2011, 10:08 PM
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how to compute land value

I live in Michigan. I purchased a foreclosure home in 2009 for $25001. I began renting it in 2010. The rental section of Turbo Tax requests the land value. I checked the city's assessor's website and found the land value listed at $34650. It is coming up as an error in TT stating the land value amount is too high. The property was appraised in 2010 at approx $60,000. How do I compute the land value?



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