where to report land sold with the building (hotel) for LLC ?

[skyworks]

Hi,

I am reporting sales of the rental property - small hotel building  for LLC

The sales price was lower than purchase price.

I allocated same price (of purchase price ) to the land, then the land sales reported on 4797 page one.

The building part is ok on page 2 of 4797 with recapture gain, etc.

Not sure if the land should also goes on page two of 4797?

ANyone can help? Thanks!!

[Terry53029]

Land is section 1231 property and,  goes on part one. See instructions: https://www.irs.gov/pub/irs-pdf/i4797.pdf

Did your client hold short or long term