Thank you for your reply to this.
I see in the example to allocate the residence, land, appliance B and C to the selling price,
Looks like you take each original cost value and divide it by the total original cost $111,500 and use this percentage against the sales price $222,000.
This will provide the proper allocation of each item for the recording of the sale.
Is this correct?
One more question.
Is the depreciation that was not taken on the appliances which totaled $143.61 added back to the basis of the residence or how is this expense captured?
Again, thank you for your assistance on this.
