Wow! Thank you for this very detailed explanation! Just two more questions:
The assessment from the county does not specific the land from the building... Not sure if it was normal. I have not been able to find this information in their online database either. However, I found the tax return for the year when the property was purchased. It states the land value and the property value. Is it ok that I use it as a reference for the percentage?
If IRS had an issue with my report of the sale, would they be forgiving if I told them (the truth) that I could not find any other data other than the old tax return? (A bad divorce. Unable to retrieve any other documents from ex.)
