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I agree with the previous posts on the treatment of your gain. Form 4797 for the rental and sched D for the land. $8k gain (always look at your basis after depreciation) taxed at 25%. But I have one other comment.

My accountant says he can't help me yet because he doesn't have his 2001 tax software.

Maybe you need to think about a new accountant.

First of all, you don't need software to do a tax projection. There's always pencil and paper. Software just makes things a bit quicker. I'd be a little afraid of an accountant that CAN'T do without software. They're depending too much on the programming and not thinking for themselves.

Second, I've got software that allows me to project 2001 taxes, and I've had it for over a year. In fact, I can project taxes out for the next 10 years (making some major assumptions, of course). So there's stuff out there, your accountant is either too lazy or too cheap to get it, or they don't know it's available. None of these are good signs.

Just my thoughts on your statement.

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