Thank you for your help.
I bought the property for $215,000. I used a 72/28 ration of structure to land at that time of purchase. That equates to a split of $155,000/$60,000
I sold the property for $315,000. Using the same ratio, that leaves the structure valued at $226,800 and the land at $88,200.
I did not live in the property 2 of the last 5 years.
I have selected the "I sold or otherwise..." and entered the date of sale and answered NO to the question, " Was this asset included in the sale of your main home".
So if I understand you correctly.... the entries that I input for "sales price" for the sale of the structural asset itself PLUS every improvement should total $226,800. Correct?
For the "Sales Expense" block, I had planned to use the numbers taken from the settlement sheet on only the structure.
Please let me know if I interpreted your assistance correctly. Thanks again.
I
