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Business & farm
"You could also allocate the proceeds on a pro-rata basis, but the total gain will be the same." True but there would be section 1250 depreciation recapture on both the roof and building. this would result in $1638 more 1250 gain and that much less in capital gain. depending on their tax situation they could pay more in taxes.
ā€ˇFebruary 3, 2021
1:31 AM