Investors & landlords

If you have been depreciating these assets as required then this should be a simply third grade math problem ... if you don't understand  this basic example then please seek professional guidance... 

 

Are they the original prices I paid for them? Yes 

Are they the original cost minus depreciation? No 

 

If the sale price is 200 and cost of sale is 10 ....

 

asset       orig basis     % of orig basis      sale price     cost of sale 

House     100   / 160 = 63%           x 200 = 126           x10 = 63

land           30  / 160 = 19%            x 200 = 38             x10 = 19

cabinets    20 / 160  =  13%           x 200 =  26           x 10 = 13

doors         10 / 160  =  5%            x 200 =  10            x 10 = 5

total basis         160