- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How should I split the basis and sales price of a property between cost and land that I sold? I purchased in 2007, started renting it 100% in 2016 and sold in 2022
- Purchased in 2007 ($324,009)
- Started Renting (100%) in 3/2016 until I sold it in 5/2022
- Sold for $380,000
I understand I will have to reduce my basis by the depreciation I had during the time as a rental but not sure how to ensure my correct basis is listed.
- Started Renting (100%) in 3/2016 until I sold it in 5/2022
- Sold for $380,000
I understand I will have to reduce my basis by the depreciation I had during the time as a rental but not sure how to ensure my correct basis is listed.
Topics:
March 1, 2023
10:08 AM