Asset and land were combined when sold sales expense was for bot, how do I figure sales expense for land
How do I figure land sales expense
02902
1 Best answer
IreneS
Intuit Alumni
Jun 3, 2019 1:27:29 PM
You can look at your county tax assessment, to see how much of the total assessment they apportion to land and how much to improvements. You can use the same percentage to allocate the sales price and expenses.
2 Replies
IreneS
Intuit Alumni
Jun 3, 2019 1:27:29 PM
You can look at your county tax assessment, to see how much of the total assessment they apportion to land and how much to improvements. You can use the same percentage to allocate the sales price and expenses.
Event_Horizon
Returning Member
Jun 3, 2019 1:27:30 PM
What does this mean? When you sell a house/rental all they give you is the sale price of the house. What is the formula to figure this out?