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Old 12-30-2013, 11:23 AM
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Multiple Asset Entity with Unknown Basis in Each

How do you allocate cost basis for an entity that has had 4-5 individual assets that through the years have had various improvements done to them(real estate assets). You are now going to sell one of the assets and need to attribute the improvements that date back to the 90s. The land and building cost basis is known, what is not known is the proper allocation that sits in improvements as they are all lumped in together.



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