I just ran two scenarios to check this out, and the problem still exists.
IN scenario 1 I paid $100,000 for the property. My tax bill valued the property at $50,000 with the land being allocated 30% of that, which is $15,000. Based on that percentage, the program correctly figured $30,000 for the land and $70,000 for the structure.
In scanario 2 I paid $100,000 for the property, and when asked if I did any property improvements said yes, and told the program I did $50,000 in property improvements bringing the total cost basis on that first asset entry to $150,000. The program then allocated $45,000 to the land and $105,000 to the structure, which is incorrect. Based on the percentages of the property tax bill, if the original structure was valued at $70,000, the program did not add $50,000 to that value. It only added $35,000 to that value and the remaining $15,000 was incorrectly added to the land.
Then entire $50,000 should have been added to the structure value to make that amount $120,000, leaving the land value at $30,000.
