@Anonymous_ wrote:
@Opus 17 wrote:
I don't think there is a black and white rule about "allocating" the cost between land and structures, other than you must accurately reflect the value of the land........
An allocation is required to be made since there is no depreciation allowance for land per Section 1.167(a)-2.
I think the question was how to allocate the "seller discount" between the land and the structures.
