Thanks for your thorough response on this. I do believe the value of the land represents ~30%. Formula for this was: New Property Land Value/(New Property Basis+Old Property Depreciation Taken). I added the Old Property Depreciation back in, since that number was subtracted to arrive at the Adjusted Basis for the Old Property. This certainly seems in-range. Do you think it would best to make this change prior to filing for 2023 or wait until the property is sold?
