Tax Purposes - Cost Basis for Depreciation - Appraisal Report VS County Assessment

[Anx Carter]

Hi All, 

  Newbie here. I purchased my home in 2019 however put it as a rental only in 2021. From 2019 county records, land is 86% of the total value of the property which is not realistic. I do have a home appraisal report from 2019 as part of the original purchase, which allocates land to be about 60% of the total value. Am I OK to use the appraisal report as my cost basis? Does this have any reasonable standing in case of an IRS query (as to why I am not using county's numbers)?

Here are the numbers from Appraisal report, in case it helps - https://prnt.sc/5UtpzLTG66JW

[Glen Wiley]

Keep the appraisal as documentation in the event of an audit and use those numbers. You will be fine.