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June 1, 2019
Question

What if I bought something that has 3 different parts for a single price but then sold just one of the parts? How do declare the original value of just the sold part?

  • June 1, 2019
  • 1 reply
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This is for declaring Sale of Business Property.  If I bought something that has 3 different parts, and each part has a different value, but I bought it for a single price.  And now I've sold just one part of it.  How do I determine the original price I paid for just the single part?

1 reply

Critter
Employee
June 1, 2019

Use your third grade math solving techniques ... remember those "word" math problems you thought you would never use ?   For example ....

3 parts individually sell for $2, $3 & $5 for a total of $10 when you bought them  

% for each is 20, 30 & 50    

If you bought the lot for a discount say $8  then the purchase cost for each is  $1.60,  $2.40  &  $4