Use the same percentages to allocate the total sales price (and any selling expenses).
As an example, if your total sales proceeds were $500,000:
Sales proceeds for the improvements would be $500,000 x 42.55% = $212,750.
Subtracting the basis you provided would result in a gain = $212,750 - $167,834 = $44,916.
You have the option to report the improvements with minimal value as a sale equal to their basis (net zero gain/loss). Then report most (or all) of the improvement sales proceeds on the asset with the highest basis. As long as the numbers total to the actual gain/loss for the sale, you should be fine.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
