I have a relatively complicated question about easement taxes. I sold the corner of my lot to the city as a permanent easement. I understand how to calculate the gain from that corner. There are complicating factors though. First I rent out a room in my house so some of my property is a rental and some is my permanent residence. Secondly, there was an old permanent easement from the 1950s that I think was thrown in with my corner so that it would be a modern easement. If I use the old and new easement square footage combined I lost money on the deal, if I simply calculate the corner part I owe money. To further complicate things, I am not sure if I should use the total lot size or subtract the old easement square footage from the lot size when calculating purchase basis. Maybe Im overthinking this...
