Bought a multi-unit in 2017, rent out one unit, live in the other. What is the "Original Purchase Price" if they were bought as one property and had never been separate?

[Vanessa · Accepted solution]

You will allocate the Purchase Price. If both sides are the same size and reasonably have the same value, then you can simply allocate 50% to each side. If one side is much larger or smaller or would reasonably have a large difference in value, then you would allocate the price accordingly.