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Investors & landlords
Hello Diane,
In respect to your 2nd answer, now that we are all of the understanding the the Oil and Gas property is only for mineral rights, and not the land, the answer below would be in the context of only 2 properties, being the Ford Distro Center and the Senior Living Center. Please confirm.
"Yes, the additional basis should be applied to all three properties because they are all tied to your original property traded in the transaction. All cost basis belongs to all three properties."
Thank so much!
Jamie
March 22, 2023
12:37 PM