I purchased multiple units of differing types in one transaction. Given they are different types, doing a straight (Purchase Price / Square Footage) calculation doesn't accurately reflect comparable sales for each unit type. As an example:
Unit 1, 350 sf, comparable sales at the time of purchase $45k
Unit 2, 650 sf, comparable sales at the time of purchase $55k
Purchased together for $100k
In what ways can I assign the cost basis for tax purposes?
