I appreciate it. I think I understand the Asset Sales Price and Land Sales Price, but I am still lost on the Asset sales expenses and Land Sales Expenses calculations. Assuming I am using tax year 2025 numbers, this is what I calculated.
Improvement Home Site 132,220
Land Value 30,000
Total Value 162,220
Improvement Home Site 132,220 divided by Total Value 162,220 = .815 asset %
1 - .815 = .185 land %
138,957.69 sold home multiply .815 = 113,250.51 Asset sales price
138,957.69 sold home subtract 113,250.51 Asset sales price = 25,707.18 Land Sale Price
How do I calculate Asset sales expenses and Land Sales Expenses? Thank you.
