Thanks David,
So I am trying to figure out the advantage/ disadvantage to either approach. If I lump them all together and figure my Basis, I am looking at a 20% Gain on the Property. However, then I believe I need to recapture the depreciation which is about 30% because of the time held. If I instead Allocate the other expenses and just deal with the initial purchase basis, does this mean that I dont need to recapture the depreciation on the roof and other improvements? Would I be able to add the book value of the roof in to the basis?
